BEIJING - North Korea plans to grant China access to a rare earth mine in exchange for investment in solar energy that could ease its chronic power shortages, a Chinese industry association website reported on Thursday.
Putting the cost of a 2.5 million kilowatts per day solar plant in North Korea at around $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. As 2019 marked the 70th anniversary of the establishment of diplomatic relations between the two countries, the official said, it would be “easier to negotiate with the Chinese authorities” at the current time.
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