S. Korea, Mongolia sign deal on mine reclamation, environmental preservation

SEOUL, Jan. 25 (Yonhap) -- South Korea's Mine Reclamation Corp. (MIRECO) signed
an environmental protection and clean-up deal with Mongolia on Monday that could
fuel bilateral business tie-ups, the state-run firm said.

The memorandum of understanding involves Mongolia's Ministry of Mineral Resources
and Energy and a consortium of South Korean construction companies operating in
Mongolia, and could allow Korean businesses to be involved in proposed
reclamation works at the Oyu Tolgoi and Tavan Tolgoi mines.
The two regions have vast deposits of coal, and large scale development projects
slated to take place in the near future threaten to cause soil and water
contamination that Ulan Bator wants to prevent.
The Mongolian government has announced a plan to inject US$200 into preventative
and reclamation efforts from 2010 through 2015 with funds coming from the sale of
natural resources.
The blueprint could fuel business opportunities for companies specializing in
environmental protection, MIRECO said.
"MIRECO enjoys world-class skills in land clean-up and water purification,"
company chief Lee Lee-jae said, adding this will allow the corporation and the
other companies involved to resolve challenges facing the land-locked country.
yonngong@yna.co.kr
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