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Korea Resources Corp.. I I III II IV Korea’s overseas mineral development Mining projects in Mongolia What is KORES? Doing business in Mongolia V V Proposed.

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Presentation on theme: "Korea Resources Corp.. I I III II IV Korea’s overseas mineral development Mining projects in Mongolia What is KORES? Doing business in Mongolia V V Proposed."— Presentation transcript:

1 Korea Resources Corp.

2 I I III II IV Korea’s overseas mineral development Mining projects in Mongolia What is KORES? Doing business in Mongolia V V Proposed cooperation plan

3 Demand & Imports of Korea(2014)2013 country manufacturing competitiveness index * Mineral resources : included metal & nonmetal RankCountryIndex score 1China10.00 2Germany7.98 3USA7.84 4India7.65 5South Korea7.59 6Taiwan7.57 7Canada7.24 8Brazil7.13 Section 2014 TotalMineralCoal Demand (million US$) 302,358180,361121,997 Import (million US$) 293,187173,126120,060 Self-sufficiency rate (%) 5.48.01.6 Rate of dependence on import (%) 94.69298.4 Korea Resources Corp. World’s No. 5 manufacturer after China, Germany, U.S. & India Major consumer of minerals, importing 94.6% of needed minerals including coal Import amount in 2014: 29 billion USD

4 General table of all projects in 2014 Section Ongoing projects Finished projects Total ExplorationDevelopmentProduction Sub- total Projects16110975345174519 Investment (million US$) 1,3624,6318,72714,7201,20615,926 Commodity233317382139 Countries383419504161 Korea Resources Corp. Pursued 519 projects with 61 countries in 39 diversified commodities since 1977 345 projects in progress Cumulative investment amount: 15.926 billion USD

5 Korea Resources Corp. CategoryContentsNotes LocationEast Kalimantan About 1,300 km west of Balikpapan Shareholders SAMTAN 49%, Indika 46%, Muji 5% Indonesian partners Mining area50,921 hectare2/3 of size of Jakarta Coal reserves1,376 mil. tonsAs of end of 2013 Mining potential651 mil. tonsAs of end of 2013 Annual production40 mil. tonsAs of 2011 Accumulated output volume 350 mil. tonsSince 1993 Successful case study: Pasir Coal Mine in Indonesia

6 Selection criteria: 1)Ores 90% of whose domestic demand comes from imports 2)Ores with annual imports exceeding 100 million USD 3)Ores that can be processed or used at domestic facilities Focusing on 6 strategic minerals and 2 new strategic minerals B.C Fe U Zn Ni Cu LiREE Main task of Korean gov’t: Korea Resources Corp.

7 Korea Resources Corporation (KORES) is a wholly owned government body set up in 1967 to specialize in mining. In 2008, KORES was changed to a direct investor from a promotion agency. ← Exploration & Development of Mineral Resources ← Providing Technical & Financial Support ← Stockpiling of Rare Metals ← Research & Development Major Business Activities 1967 ‘Incorporation’ Promotion Agency2008 ‘Quantum Jump’ Direct Investor

8 Korea Resources Corp. Minerva (Coal) Athena (Coal) Marree (Uranium) Spring Vale (Coal) Angus Place (Coal) Wyong (Coal) Moolarben (Coal) Togara North (Coal) Cockatoo (Coal) Narrabri (Coal) Zandkopsdrift (REM) Ambatovy (Ni) Vlakplaats (Coal) Mkuze (Uranium) Teguidda (Uranium) Erdenet (Cu) Qingshan (REM) Zhangjiagang (Limestone) Zizn Maxun (REM) Houaphanh (Zn) Rapurapu (Cu) Kapuas (Coal) Cree-East (U) Shakespeare (Cu, Ni) Capstone (Zn) Rosemont (Zn) Boleo (Cu) Cobre Panama(Cu) Marcona (Cu) NX Uno (Li) Santo Domingo (Cu) Sal de Vida(Li) KORES has direct investment in 32 projects (11 exp., 8 dev., 13 prod. stages) Operating 9 overseas offices including one in Mongolia

9 Australia, Springvale Coal Project Location: Australia Owners : Banpu (50%) Korea Resources Corp. (25%) SK Energy (25%) Development Stage: Production Cost: US$ 220 million Capacity: 3.3 Mmllion tons/year Mining method: Longwall mining Reserves: 50 million tons (thermal coal) Expected Mine Life : Until 2030

10 Madagascar, Ambatovy Nickel Project Process Plant Antananarivo Mine Site Location: Madagascar Owners : Sherritt International (40%) Korea Resources Corp. (27.5%) Sumitomo (27.5%) SNC-Lavalin (5%) Development Stage: Production Cost: US$ 5.5 billion First Metal: Q1 2012 Reserves: 78.4 million tons (Ni 0.94%) Production Scale: Ni metal 60,000 tons/year No. of working years: 29

11 Section Ongoing projects AbandonedFinishedTotal ExplorationDevelopmentProduction Projects1243371369 Korea Resources Corp. Commodity GoldSoft coalFluoriteCopperOthersTotal Projects25121081469 Korea has had 69 mining projects in Mongolia centered on private companies; only 19 projects are ongoing, most gold mines are being run by small to medium-size Korean private companies. No successful mining project yet in Mongolia

12 World’s 7 th most resource-rich nation Abundant deposits of minerals Landlocked, lack of consumption & infra High reliance on 3C, high policy risk Promote more foreign investment in Mongolian mining sector to boost Mongolia’s economic development

13 Korea Resources Corp. I. Mid to long-term cooperation 3 Geological survey Resources estimation Grade control Mine plan Cost analysis Economic evaluation Production plan Produce mineral products Processing method Refinery process Recovery control Market research Consumer analysis Logistics study Construction of railways & roads leading to mines

14 Scope of Works Step Status analysis Market trends Status of Mongolia mineral resources Development status In Mongolia Implications Step Construction of ICBM Concept of ICBM Design of ICBM (reserves, production, plants, infra, Etc.) Analysis of effect Step Application of ICBM Case A(copper) Case B(Iron) Role of each country (Korea and Mongolia)

15 Korea Resources Corp. II. Short-term cooperation - Push for joint exploration in promising complex ore projects * E.g., pursue exploration to draw up geological map with Mongolian partners Seeking major interest from and cooperation of Mongolian government in cooperation for mineral resource promotion

16 Thank you very much. Korea Resources Corp.


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