BEIJING - North Korea plans to grant China access to a rare earth mine in exchange for investment in solar energy that could ease chronic power shortages in the impoverished country, according to an article posted on an industry association website on Thursday .
Putting the cost of a 2.5 million kilowatt hour per day solar plant in North Korea at around US$2.5 billion , the report on the website of the Association of China Rare Earth Industry said China's reward for investing would be mining rights to a rare earth mine in North Pyongan province on its borders.
"This is the best time for China to invest in North Korea," the CBC report quoted a North Korean government official in Shenyang as saying. However, one Chinese rare earth industry source said such an agreement was"wishful thinking" on behalf of North Korea and queried the real level of Chinese interest in the project.