NK-natural resources N. Korea sees value of its natural resource holdings spike

SEOUL, Aug. 23 (Yonhap) -- North Korea saw the value of its natural resource holdings jump nearly 40 percent over the past two years as prices of minerals in international markets have been surging, a local think tank said Tuesday. According to the report compiled by the North Korea Resources Institute, the North held major natural resources valued at around US$10.4 trillion as of July, up 39.3 percent from 2009. The figure is based on disclosed data regarding the reclusive country along with international prices of major minerals and other resources, it explained. Many of those figures were not officially verified by the North, it added. The North held coal worth $3.48 trillion as of July, the largest among its holdings of natural resources, the report said. The North's gold and iron ore holdings were estimated at $134.69 billion and $794.68 billion, respectively, which were 67 times and 133 times larger than the South, the report showed. Its uranium holdings came to $16.33 billion, much higher than $3.83 billion in the South, according to the report. South Korea's holdings of natural resources, meanwhile, were estimated at $470 billion, a 44.5 percent increase over the same cited period, the report showed.