Mining Info > Mining Situation > Overseas
Overview Status
 
Status
A. General
In total, 153 projects have been executed, of which 36 projects are in the phase of exploration and 37 projects are in the phase of development or production of overseas minerals resources. 18 projects were suspended and 62 projects were terminated, from 1977 to May 2003.
 
< Overseas Resource Development Project Status (as of May 31, 2003) >
  Projects in Progress Completed Total
Survey Development Production Suspended Total    
¡¡No. of Projects 36 18 19 18 91 62 153
¡¡Investment (U$ Mil) 68 40 1,330 9 1,446 225 1,671
¡¡Type of Minerals 5 8 8 10 18 15 24
¡¡Country 18 10 10 12 29 24 38
¡¡Company 32 19 18 18 72 42 97
 
Projects in their exploration, development or production phases are classified according to mineral type with the following breakdown:18 Anthracite projects are currently being pursued, seven are in the exploration phase and 11 in the production phase. One Uranium project is in the exploration stage. Three Copper projects are in the exploration phase, three are in the development phase and two are production. Two Lead/Zinc projects are being explored, two are under development and one is in production. A total of 31 Gold projects are in progress, 23 of which are in the exploration phase, seven are in development and one in production. Two Tin projects are in the development stage. At least one Project each of Iron, Aluminum, Mica, Sapphire, Silica sand, Phosphate, Limestone and Magnetite is either in the development or production phase.

The projects of overseas bituminous coal development began with the participation in the survey on Maha Kam bituminous coal deposit by Hwanglyung Corp. and Kuckche Trade. Due to POSCO's needs for fuel coal, it began to study 38 projects which include the project of Tanoma bituminous coal deposit in US in December, 1978 and the project of Mt. Thorley bituminous coal deposit in Australia in April, 1980. It is now developing 18 projects including the project of Spring Vaill, Australia and the project of Hanglaewan, China.

The beginning of uranium development stared with the participation in the exploration project of San Antonio uranium deposit in Paraguay by 25% shares of Korea Electricity Power Corporation (KEPCO).

8 projects such as Nord Leyou project in Gabon, Dawn Lake Project in Canada and etc. were operated in 1996 but they were suspended or surrendered their shares to other companies except Baker Lake (Daewoo) project in Canada which is operating now.

In addition, 54 other projects are in progress. Some of them are projects of Dzhezkazdan copper complex in Kazakhstan (Samsung), Tintic Lead/Zinc mine in USA (Korea Zinc), Laflaf Copper mine in the Philippines (LG, KORES).
 
< Summary of Overseas Resources Development Projects (May 2003) >
Mineral Kinds Exploration Development Production Total Country
¡¡Bituminous Coal 7 - 11 18 AUS., USA, Indonesia (6)
¡¡Uranium 1 - - 1 Canada (1)
¡¡Copper 3 3 2 8 Peru, Kazakhstan (7)
¡¡Lead/Zinc 2 2 1 5 USA, AUS., Canada (3)
¡¡Gold 23 7 1 31 Mali, Mongol, PNG (11)
¡¡Iron Ore - 1 - 1 Mongol (1)
¡¡Aluminium - - 1 1 Venezuela (1)
¡¡Tin - 2 - 2 China (1)
¡¡Mica - 1 - 1 S. Africa (1)
¡¡Sapphire - - 1 1 Laos (1)
¡¡Silica Sand - - 1 1 Vietnam, Malaysia,
Indonesia (4)
¡¡Phosphate - 1 - 1 Mongol (1)
¡¡Limestone - 1 - 1 Australia (1)
¡¡Magnesite - - 1 1 China
¡¡Total 36 18 19 73  

Note) ( ) number of country
 
B. Status and Past Record of Overseas Resources Development Projects
(Excluding petroleum/as Development Projects)
Progressing Projects : 18 Minerals, 29 Countries, 72 companies, 91 Projects
 
Exploration Projects : 5 Minerals and 36 Projects
Mineral Project Country Company Share
(%)		 Investment
(1000 U$) 		Decl-
aration		 Status
Bituminous
Coal 		Togaranorth Australia Hyosung, etc. 33.3 5,897 94 Final F/S Finished
Wyong Australia SK, etc 17 11,630 95 Exploration
Lushan China Ssangyong, etc 50 1,781 94 Reserve
Development
Cayuga Australia Ssangyong 7 468 97 Final F/S Finished
Separi Indonesia Seco
international 		95 3,000 01 Exploration
Hanglaiman China Kyungdong,
KORES,
Samsung
Corp.		 51 20 02 Exploration
Sukamaju Indonesia Seco
international 		95 538 02 Exploration
7 3 12 - 19.776    
Uranium
Copper 		Baker Lake Canada Daewoo 2 2,649 83 Exploration
Copper Belt Zambia Korea Zinc, etc 30 3,547 96 Exploration
Venus Peru Wha-il 51 789 98 Exploration
Knite Lake Canada KORES 50 1,209 99 Exploration
3 3 4 - 20,334    
Lead/Zinc Tinic U.S.A Korea Zinc, etc 25 5,000 95 Exploration
Circu Canada Korea Zinc, etc 50 6,101 94 Standby
Development
2 2 1 - 4,336    
Gold Nkwanta Gana Yezee Trade 88 76 99 Exploration
Dodoma Tanzania Gusan 70 - 99 Exploration
Jamase Gana Hyungje 100 - 00 Exploration
Guin/
Amoushar/
Eshbara 		Chad Hyundai
Constrution,
Apco Korea		 100 119 00 Exploration
Lamsurentohoi Mongol J.K. General 100 - 00 Exploration
Gamboke Chad Hyundai
Constrution,
Apco Korea 		100 5,434 98 Exploration
Massonebare Chad Hyundai
Constrution,
Apco Korea 		100 - 00 Exploration
Kenieba Mali Hyundai Corp. 100 10,964 95 Exploration
Genso Mali Youngpung 100 5,326 95 Exploration
Mt. Kuta Papua New
Guinea 		Youngpung 100 1,762 98 Exploration
Shiveet Mongol Yeonwon Corp. 70 10 00 Exploration
Uliastai Mongol GH E&P 100 920 00 Exploration
Tambo Bolivia FAS 51 30 01 Exploration
Vinderniri Chad Apcoin Corp. 100 - 01 Exploration
Umundelger Mongol GH E&P 100 - 01 Exploration
Hataktai Mongol GH E&P 100 - 01 Exploration
Cagayan Philippines Goldking Korea 35 - 01 Exploration
Viengkam Laos Jungyong 63 - 01 Exploration
Bayan Hongor Mongol GH E&P 100 - 02 Exploration
Romdjerem Cameroon Apcoin Corp. 60 184 02 Exploration
Phnomchi Cameroon Neonia 100 - 02 Exploration
Tingomaria Peru Ananea 100 - 02 Exploration
Wau Papua
NewGuinea		 Dungjun 100 - 03 Exploration
23 12 16 - 24,825    
Tota l: 5 36 18 32 - 67,454    

Notes)
- TogaraNorth : Korea Consortium (Hyosung, SK, KORES, Dongbu Construction : 8.33%, respectively) 33.3%
- Wyong : KGWC (SK, SK Corp, KORES, KOLON) 17%
- Lushan : Dongbu Construction 20%, Halla Resources 12.5%, Ssangyong 10%, Korea Cement 7.5%
- Copperbelt : Korea Zinc 28.5%, Surin Corp. 1.5%
- Guin-Amoushar-Eshbara : Hyundai Construction 70%, Apcoin Corp. 30%
- Gamboke, Massonebare : Hyundai Construction 70%, Apcoin Corp. 30%
Development Project : 8 Minerals, 18 Projects
Mineral Project Country Company Share
(%)		 Investment
(1000 U$) 		Decl-
aration		 Status
Copper Erdenet Mongol Hanmi 100 1,000 00 Investigation for
Propreity
Hinoban Philippines Daejin 70 - 01 Investigation for
development
Lapu-lapu Philippines LG Corp,KORES 26 - 02 Preparing for
development
3 2 4 - 1,000    
Lead/Zinc Sa Dena Hes Canada Korea Zinc 50 13,512 94 Closed
Faro Canada Hyundai Corp. 19.8 17,680 94 Legal
Management
2 1 2 - 1,000    
Mica Transbal South
Africa 		Sinco Mineral 100 532 99 Preparing for
development
Gold Escondina Peru Riverland 100 - 01 Preparing for
development
Saramacca Suriname Youngpung 100 5,625 01 Preparing for
development
Duranggo Mexico Duranggo 60~
90		 - 01 Preparing for
development
Inimbari Peru Sema Mineral 100 850 01 Preparing for
development
Bayanche-
okdo 		Mongol Jeil Mining 70 - 01 Preparing for
development
MRD Thailand Hana Mining 100 - 02 Preparing for
development
RioNegro Peru Dior World 66 300 01 Preparing for
development
7 5 7 - 6,775    
Linestone Ryo Myung China Sukbo 100 - 01 Preparing for
A factory
Stone Yientaido-
nghu 		China Dongho 52.5 - 01 Exploration
Xinda China INV KOREA 100 - 03 Exploration
2 1 2        
Iron POSMAC Australia POSCO 20 563 02 Exploration
Phosphate Burenkhan Mongol Samrim Int'l. 74.5 - 02 Exploration
Total : 8 18 10 19 - 40,062    

Note) - :Lapu-lapu : KORES 10,4%, LG Corp. 15.6%
 
Production Project : 8 Minerals, 19 Projects
Mineral Project Country Company Share
(%)		 Investment
(1000 U$) 		Decl-
aration		 Status
Bituminous
Coal 		Mt. Thory Australia POSCO 20 49,969 80 Development &
Import From ¡®82
Greenhills Canada POSCO 20 73,949 81 Development &
Import From ¡®83
Draton Australia Hyundai Corp.,
Daesung 		5 23,516 79 Development &
Import From ¡®83
Usibelli U.S.A Hyundai
Merchant &
Marine co. 		Financing
& Buying 		2,000 93 Import
Clarens Australia SK 15 16,372 90 Development &
Import From ¡®90
Pasir Indonesia Samtan 100 333,126 82 Development &
Import From ¡®93
Sharvon Australia SK 5 2,747 95 Development &
Import From ¡®96
Springvale Australia KORES, SK 50 115,908 91 Development &
Import From ¡®95
Tunomme Australia LG Corp. 5 12,976 84 Development &
Import From ¡®93
Darbrook Australia Ssangyong 7 54,919 94 Development &
Import From ¡®95
Erel Russia LG Corp.,
lisco 		35.2 1,651 96 Development &
Import From ¡®93
11 5 10 - 687,133    

Copper 		Kazakhmys
(ex.Jezkazkan) 		Kazakhstan Samsung
Corp. 		27.55 157,730 96 Development &
Import From ¡® 96
Condestable Peru LG Industrial
Systems co. 		17.06 7,137 97 Operating a
dressing plant
2 2 2 - 164,867    
Lead/Zinc Townsville Australia Korea Zinc 100 456,056 97 Development &
Import From ' 00
Gold Cecillia Bolivia Dongwo 100 3,218 02 Production
Magnesite Yingkou
shanhua 		China Wonjin KR 100 10,028 00 Production
Aluminium Qingdao China Kyungdong 60 3,040 01 Production
Sapphire Bokeo Laos Buhye 100 2,723 98 Preparing for
Development
Silica
Stone/sand 		Rongcheno
-ng 		China Korea Glass Ind. 100 3,000 00 Producing
From ¡®02
Total 19 10 18 - 1,330,065    

Notes)
- Draton : Hyundai Corp. 2.5%, Daesung Ind. 2.5%
- Springvale : KORES 25%, SK 25%
 
Ceased Project : 10 Minerals, 18 Projects
Mineral Project Country Company Share
(%)		 Investment
(1000 U$) 		Decl-
aration		 Status
Bituminous
Coal 		Tugnui Russia Hongjung Financing
& Buying 		- 95 Failure to secure
Sales networks
Glennis
creek 		Australia SK 10 - 95 Economical
inefficiency
2 2 2 - -    
Copper Silver bar U.S.A KIM 20 389 95 Bad mining
condition
Gold Memot Cambodia Suncamco 100 - 95 Bad mining
condition
Mainit
Baramgay 		Philippines Woo 100 - 95 Bad mining
condition
2 2 2 - -    
Magnesite Doi Indonesia Jinkwang
Magma 		100 - 95 Exhaustion
Bohol Philippines Dohan
Mining 		95 891 94 Economical
Inefficiency
Turung
agung 		Indonesia Kumdong 80 - 97 Company
bankruptcy
3 2 3 - 891    
Aluminium Orinoco Venezuela Duyang Corp. 50 - 90 Company
bankruptcy
Silica
Stone/sand 		Balam
bangan 		Malaysia Sulak Cons. 49 - 94 Bad Mining
condition
Camramh Vietnam Ssangyong Financing
& Buying		 461 94 Nonfulfilment of
a contract by
Vietnam
Pnajam Indonesia Doosan Class 60   96 Failure to get
exploration rights
3 3 3 - 461    
Talc Xihe China Hanjung 20 598 93 Company
bankruptcy
Sulfur Gongora Costa Rica Moa 50 - 91 Dropping in
sale price
Rock salt Lake
Meleod 		Australia Hanjoo 49 1500 96 Legal
Management
Stone Laizhou China Daesung Mine 75 2,064 98 Deficit
operation
Gumphil Philippines Kumhae 100 - 98 Bad condition
for investment
Sunshine
Red 		Saudi
Arabia 		Ilsin 100 1,940 98 Legal
management
3 3 3 - 4,004    
Total 18 12 18   7,843    
Total 91 29 72   1,445,425