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S.Korea to Search for Rare Earth Elements

Written: 2011-02-25 15:17:10Updated: 2011-02-25 17:10:49

The government will begin searching for rare earth elements on South Korean territory.

The Ministry of Knowledge Economy said Friday that it will conduct into 2013 projects to look for rare earth element reserves in eastern and central South Korea.

The task force that is already in place to search for the minerals will be assisted by an increased number of institutes and firms.

The team’s duties will increase as well to include monitoring of supply and demand and collaboration in overseas resource development.

South Korea is stepping up efforts to secure rare earth elements in line with China’s announcement that it would restrict exports of such minerals.

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