Reuters: Korea Resources says to invest $532 mln in overseas projects

Korea Resources Corp (KORES) said on Friday that it plans to invest at least 600 billion won ($532 million) this year in overseas resources projects, and is looking to acquire stakes in bituminous coal mines in Indonesia and North America. Kim Shin-jong, president and chief executive of the state run resource developer, said KORES, which invested nearly 780 billion won in overseas acquisitions last year, aimed to shore up the country’s self-sufficiency level for six major minerals to 50 percent by 2020. Kim also said the company was in talks with Mongolia and Russia to take a bigger stake in Mongolia’s Tavan Tolgoi coal project, noting that a deal was unlikely to be finalised before June because of a general election in Mongolia. To read the full article, click hereKorea Resources says to invest $532 mln in overseas projects

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