South Korea and Laos plan to expand cooperation in developing iron ore and tin deposits, according to Korea’s Yonhap news agency. Seoul and Vientiane will sign an energy resources pact and set up a joint cooperation committee to coordinate future exploration and mining. South Korea’s Commerce and Industry Minister Kim Young-Ju is currently visiting Laos and is due to sign the agreements today.
The most important mining project covered by the deal is an iron ore mine which could be developed from next year. In addition Korean companies are also looking at buying stakes in tin deposits currently owned by a Laotian firm that may yield several hundred tons of tin that can be shipped to South Korea.
ITRI estimates that Laotian tin mine production is some 1,500 tpy.
