The Northern Geoscience & Mineral Resources Strategy Center is the only government research organization for mineral resources policies and aims to lead national resource policies based on the highest level of capability, in which technology-economics-policy has been integrated, and to play a leading role in the development of the domestic resource industry.
The Northern Geoscience & Mineral Resources Strategy Center is responsible for (1) study of national policy on energy and mineral resource cooperation with the Northern Region Countries and developing energy and mineral resource on the Korean Peninsula; (2) study on redesign of legal system in mining industry for efficient development of energy and mineral resources; (3) feasibility study of mining projects and evaluation of environmental impacts of mining projects; (4) establishment of mineral statistical data base and publication of domestic and overseas mineral resources market information.
Major achievements so far are establishment of master plan for overseas resource development (1st ~ 6th), establishment and release of official government statistics (mining statistics, mineral market statistics, rare metal statistics), development of international standard for mineral reserves evaluation and standardization of economic evaluation using it, survey on overseas resource development business, improvement plan for domestic continental shelf development law system, study on Mineral Resources Cooperation between South and North Korea and establishment of F / S evaluation, and strategy for energy and mineral resource development business.
ESTABLISHMENT AND SUPPORT OF PRINCIPAL NATIONAL MINERAL RESOURCES POLICIES IN 2019
The Northern Geoscience & Mineral Resources Strategy Center conducted various R&D projects to support the establishment of national mineral resources policies by creating primary materials for policy decision-making and participating in the development of national master plans in 2019.
• Establishment of Korea peninsula mining integration strategies
• For 「Public Procurement Service」, Establishment of optimal stockpiles of metal resources and operational strategies
• For 「Ministry of Trade, Industry and Energy」, Standardization of reserve assessment and economic evaluation of nonmetallic ore in Korea
• For 「Ministry of Trade, Industry and Energy」, Supporting the establishment of 6th masterplan for overseas resource development and of 3rd master plan for Korea’s continental shelf resource development
• For 「Ministry of Economy and Finance」, Supporting establishment of preliminary feasibility study for public investment projects
• For 「Ministry of Unifi cation」, Supporting establishment of strategies for resuming resource development of Dan-cheon in North Korea
ANALYSIS OF GLOBAL AND KOREAN MINERAL COMMODITY MARKETS
The Northern Geoscience & Mineral Resources Strategy Center deals with actual issues in world and domestic commodity markets to help understanding of annual trends of commodity markets and contains detailed market analyses for selected mineral commodities such as two precious metals, six industrial metals, and six non-metal industrial minerals.
PRODUCTION AND SERVICE OF MINERAL COMMODITIES & RARE METALS STATISTICS
Production of mineral commodity and rare metals statistics with the aim of providing statistics information to the public and policy-makers concerning current use and flow of minerals and rare metals in the Korean economy.
• Monthly Mineral Information 2019 1-12
• Yearbook of Minerals Statistics 2018
• The Mineral Commodity Supply and Demand 2018
• Korea Mineral Information 2018 (written in English)
• Analysis of trade structure on rare metal-raw materials in Korea 2019
• Info-graphic maps - limestone mining and production, rare metal imports
These statistics on mineral commodities and rare metals are provided through the website (http://mici.kigam.re.kr); statistical information is provided using maps and graphs.
PUBLISH NEWSLETTER ‘RESOURCES ECONOMICS INSIGHT’ TO SHARE RESOURCE MARKET ISSUES
The Northern Geoscience & Mineral Resources Strategy Center published a newsletter two times in 2019 to share issues and policies on resources strategy with the public and establish effective policies based on them. The main topics of the newsletter dealt with the hegemony of technology in the US and China, resource security, the 4th industrial revolution and mineral resource development, Geo-ICT Convergency Technology, etc.
Contact: Hyunbock Lee (hblee@kigam.re.kr)
