Browse the complete Report on: South Korea Mining Report Q3 2010
Browse All Business Monitor International Market Research Reports
As a country that lacks many natural resources, South Korea is heavily dependent on imported raw materials. As a result, the country believes that FTAs and JVs are the most reliable ways to secure future supplies of raw materials and it is this mindset which is the driving force behind two planned FTAs with Australia and Peru, both of which are rich in natural minerals and resources. South Korea’s industrial giants are also branching out in a bid to secure raw material supplies. In Q310, POSCO, the country’s largest steelmaker, purchased a stake of 7.8% in a coal mine in Mozambique in order to secure supplies as the prices of raw materials rise. POSCO also announced a JV with Korean Resources to take a 60% stake in Chinese company Yongxin Rare Earth Metal. This US$8.8mn deal is considered an ideal way to bypass China’s restriction on rare earth mineral exports, which are used in industries such as wind energy.
However, at the time of writing, POSCO is still facing frustration with its planned plant in Orissa, India. With construction being halted for five years due to protests from local land owners, there have been further land disputes in 2010 which has led to another delay. Licences have still not been issued and this has forced POSCO to begin looking for investment opportunities elsewhere in India. The company is currently in negotiations for the construction of a new steel plant in Karnaka.
Despite this, one of South Korea’s biggest success stories in H110 has been its steel industry. Showing clear signs of recovery, the South Korea Iron and Steel Association announced that steel consumption in H110 had increased by 12% y-o-y and risen to 51.4mn tonnes. Meanwhile, steel output increased by 11% y-o-y, reaching 63mn tonnes and back to the pre-downturn levels of 2008. The country’s steel exports are expected to grow by 5% to 21mn tonnes, a substantial improvement on 2009 levels which dropped 3% to 20mn tonnes.
Meanwhile, as environmental concerns become ever more familiar, South Korea is looking to further develop its nuclear power industry and seek out new uranium supplies. A number of companies are searching for global uranium deposits in which to invest. South Korea currently operates 20 nuclear power stations and aims to build eight more by 2016, as well as develop small and medium-sized nuclear power reactors. As a result, a consortium has been arranged which will invest US$81.8mn in technical advances and design. The consortium is headed by state owned Korea Electric Power (KEPCO) and includes 13 local companies, of which POSCO and STX Heavy Industries Co are two.
Mining Forecast
BMI forecasts that while the Korean mining industry has improved in Q310, the rate of growth is stable and there is unlikely to be any unexpected growth spurts in the coming years. We forecast that by the end of 2010, the industry value will have increased to US$2.98bn and will continue to grow until 2014 when we expect the total industry value to reach US$4.26bn.
About Us
ReportsandReports comprises an online library of 10,000 reports, in-depth market research studies of over 5000 micro markets, and 25 industry specific websites. Our client list boasts almost all well-known publishers of such reports across the globe. We as a third-party reseller of market research reports employ a number of marketing tools, such as press releases, email-marketing and effective search-engine optimization techniques to drive revenues for our clients. We also provide 24/7 online and offline support service to our customers.
Contact:
Ms. Sunita
7557 Rambler road,
Suite 727, Dallas, TX 75231
Tel: +1-888-989-8004
http://reportsandreports.blogspot.com/
http://reportsandreports.proarticles.co.uk/
http://reportsnreports.wordpress.com/
Original Source : –Mining Market
Buy Now : Market Research Report
Browse All Business Monitor International Market Research Reports
As a country that lacks many natural resources, South Korea is heavily dependent on imported raw materials. As a result, the country believes that FTAs and JVs are the most reliable ways to secure future supplies of raw materials and it is this mindset which is the driving force behind two planned FTAs with Australia and Peru, both of which are rich in natural minerals and resources. South Korea’s industrial giants are also branching out in a bid to secure raw material supplies. In Q310, POSCO, the country’s largest steelmaker, purchased a stake of 7.8% in a coal mine in Mozambique in order to secure supplies as the prices of raw materials rise. POSCO also announced a JV with Korean Resources to take a 60% stake in Chinese company Yongxin Rare Earth Metal. This US$8.8mn deal is considered an ideal way to bypass China’s restriction on rare earth mineral exports, which are used in industries such as wind energy.
However, at the time of writing, POSCO is still facing frustration with its planned plant in Orissa, India. With construction being halted for five years due to protests from local land owners, there have been further land disputes in 2010 which has led to another delay. Licences have still not been issued and this has forced POSCO to begin looking for investment opportunities elsewhere in India. The company is currently in negotiations for the construction of a new steel plant in Karnaka.
Despite this, one of South Korea’s biggest success stories in H110 has been its steel industry. Showing clear signs of recovery, the South Korea Iron and Steel Association announced that steel consumption in H110 had increased by 12% y-o-y and risen to 51.4mn tonnes. Meanwhile, steel output increased by 11% y-o-y, reaching 63mn tonnes and back to the pre-downturn levels of 2008. The country’s steel exports are expected to grow by 5% to 21mn tonnes, a substantial improvement on 2009 levels which dropped 3% to 20mn tonnes.
Meanwhile, as environmental concerns become ever more familiar, South Korea is looking to further develop its nuclear power industry and seek out new uranium supplies. A number of companies are searching for global uranium deposits in which to invest. South Korea currently operates 20 nuclear power stations and aims to build eight more by 2016, as well as develop small and medium-sized nuclear power reactors. As a result, a consortium has been arranged which will invest US$81.8mn in technical advances and design. The consortium is headed by state owned Korea Electric Power (KEPCO) and includes 13 local companies, of which POSCO and STX Heavy Industries Co are two.
Mining Forecast
BMI forecasts that while the Korean mining industry has improved in Q310, the rate of growth is stable and there is unlikely to be any unexpected growth spurts in the coming years. We forecast that by the end of 2010, the industry value will have increased to US$2.98bn and will continue to grow until 2014 when we expect the total industry value to reach US$4.26bn.
About Us
ReportsandReports comprises an online library of 10,000 reports, in-depth market research studies of over 5000 micro markets, and 25 industry specific websites. Our client list boasts almost all well-known publishers of such reports across the globe. We as a third-party reseller of market research reports employ a number of marketing tools, such as press releases, email-marketing and effective search-engine optimization techniques to drive revenues for our clients. We also provide 24/7 online and offline support service to our customers.
Contact:
Ms. Sunita
7557 Rambler road,
Suite 727, Dallas, TX 75231
Tel: +1-888-989-8004
http://reportsandreports.blogspot.com/
http://reportsandreports.proarticles.co.uk/
http://reportsnreports.wordpress.com/
Original Source : –Mining Market
Buy Now : Market Research Report
