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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World S.Korea sees $1.3 bln metal investment in 2010 Reuters - Sunday, April 18 Send IM Story Print SEOUL, April 18 - South Korea said the country's private and public investments in six major minerals were estimated to reach $1.3 billion this year, up 22 percent from last year, thanks to economic recovery. Asia's fourth-largest economy expected its self-development rate for coal, uranium, iron ore, copper, zinc and nickel to be 27 percent, compared with 25.1 percent last year, the Ministry of Knowledge Economy said in a statement on Sunday. "The investment could hit $1.4-$1.5 billion if favourable market conditions allow more investment through mergers and acquisitions," the ministry said, referring to this year's investment outlook. It said the country's self-development rate for strategic metals had increased because of stake acquisitions in new mines, and production increases in existing mines, while the rate for copper had decreased as a result of lower production. The government planned to help raise investments in Africa, and Central and South America, which have rare metal reserves, as risk probability in supply and demand was higher than those for other natural resources, the statement said. In one of the latest major deals, a consortium led by state-run utility Korea Electric Power Corp <015760.KS> said last December it would invest 300 billion won ($270.5 million) to buy a 10 percent stake in a uranium mine in Niger to raise the country's uranium self-development rate. [ID:nTOE5B90A7] Recommend Send IM Story Print Related Articles WRAPUP 2-Thai army says will "punish" protesters Reuters - 31 minutes ago Saudi's Al Rajhi Bank Q1 net profit down 2.75 pct Reuters - 1 hour 2 minutes ago MIDEAST STOCKS - Factors to watch - April 18 Reuters - 1 hour 3 minutes ago Abu Dhabi's Sorouh sees 1,350 handovers in H2 Reuters - 1 hour 8 minutes ago China's top airlines cancel flights to Europe Reuters - 1 hour 10 minutes ago News Search Top Stories Geithner 'very confident' US finance reform will pass Central bankers warn against rushing to impose levy Europe extends flight bans as ash cloud spreads Red Bull's Vettel seizes pole in F1 China Grand Prix Goldman fraud charges trigger possible wider crackdown More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Europe extends flight bans as ash cloud spreads Toad is a telltale for impending quakes: scientists Goldman fraud charges trigger possible wider crackdown Red Bull's Vettel seizes pole in F1 China Grand Prix Toyota recalling 870,000 minivans in US, Canada More Most Viewed » Two-million-year-old hominid sheds light on evolution Toad is a telltale for impending quakes: scientists Taiwan's male 'Susan Boyle' a web sensation More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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