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Global Steel may acquire stake in North Korean mines
5 April 2010: Global Steel Holdings is holding discussions with the North Korea Government to acquire stake in Musan iron ore mines in central North Hamgyong province, North Korea.
The proposed mines hold estimated reserves of more than seven billion tonne. Global Steel is likely to negotiate for development rights to Musan for a fixed period, where it will do the mining and get to buy an agreed portion of the reserves.
Source: Expressbuzz