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

(ATTN: UPDATES with more details in para 2-3, 5)
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 (MOU) was signed by Mongolia's ministries of
mineral resources, and construction and urban development, and a consortium of
South Korean construction companies operating in Mongolia, the corporation said.
It claimed the MOU 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 million 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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