Search for minerals unfolds

Korea’s state-run natural resources company said yesterday that it is taking steps to mine iron ore and manganese in West Africa’s Ivory Coast.
Korea Resources Corp. said its president, Lee Han-ho, expressed interest in iron ore deposits in the Grand-Lahou region and manganese in Adzope in a meeting with visiting Minister of Mines and Energy Leon Monnet.
Lee said the corporation will review Ivorian requests to take part in a $1.5 billion railroad project and construction of a gold refining facility.
The Ivory Coast wants the new railroad to improve its ability to haul mined minerals from the interior to the coast.
The country on the Gulf of Guinea is also rich in gold.
Seoul has aggressively moved closer to African countries to win mineral and energy resource development deals in exchange for building industrial and social infrastructure.
The cost of raw materials has risen sharply in recent years as demand in China and India has exceeded supply.
Korea Resources said that it has already conducted initial feasibility studies in the Ivory Coast and nearby countries that indicate there is potential for further development.
Yonhap