South Korea Mining Report Q2 2011

Date: April 22, 2011
Pages: 62
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF), Download

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South Korea has small reserves of antimony, gold, copper, iron ore, lead, molybdenum, silver, tin, tungsten and zinc. The country's domestic coal reserves have been exhausted, although it holds reasonable quantities of non-metallic minerals such as kaolin, limestone, feldspar, quartzite and mica. South Korea is one of the world's leading steel producers and a leading producer of cadmium and slab zinc. Due to the country's limited mineral reserves, supply has been unable to meet demand from the country's industrial sector.

As such, South Korea is an overall net importer of mineral commodities and one of the region's main importers of coal, natural gas, nickel oxide sinter and ores and concentrates of copper, iron, lead and zinc. The current focus is on overseas exploration as the country seeks to secure supplies of raw materials to power its industrial base.

South Korea's mining and refining sectors could be boosted by events in Japan. In the short term, South Korean companies such as Korea Zinc are likely to benefit from greater demand for lead, as consumers resort to battery power for energy supplies. Looking further ahead, reconstruction efforts in Japan are likely to increase demand for South Korean steel and copper. That said, demand for uranium may be dampened by concern over safety following the earthquake.

Regulatory Environment South Korean law mandates that all land and resources come under the purview of the state, with the government determining the issuance of mining and processing licences. Given the country's small holdings of natural resources, activities are mostly focused on the processing of imported raw materials. Most of South Korea's large coal mining, natural gas, petrochemical and petroleum refining companies are state-owned and come under the supervision of the Ministry of Commerce, Industry and Energy (MCIE). Other small, mid-sized mining, quarrying and metal processing companies are privately-owned and operated.

Key Players South Korea's mining industry is dominated by the country's largest and the world's third largest steelmaker Pohang Iron and Steel Company (POSCO), and state-owned entities Korea Zinc and Korea Resources (Kores). Other major players in the country's key steel sector include Hyundai Steel and Dongkuk Steel. Korea Zinc is South Korea's leading lead and zinc producer, covering 46% and 68% of domestic lead and zinc production respectively. Poongsan Corp is South Korea's leading nonferrous metals producer, while LS-Nikko Copper is the country's main copper producer.
Executive Summary
SWOT Analysis
South Korea Political SWOT
South Korea Economic SWOT
South Korea Business Environment SWOT
Global Mining Outlook
Elevated Prices Leads To Frontier Mining & Government Regulation
Frontier Mining Facing Infrastructure Concerns
  Table: Main Frontier Mining Projects
Reduction in Output Forecasts
  Table: Lower Grades At Key Mines
Uranium Demand To Continue Despite Japan Disaster
  Table: Uranium Developments
  Table: Regulatory Issues
  Table: Other Developments
Industry Trends And Developments
  Table: South Korea Mining Industry, 2008-2015
Industry Forecast
Steel: Strong Growth Ahead
  Table: Steel Production, 2008-2015
Nickel: Demand Will Continue To Outstrip Supply
Copper: Stagnant Growth Prompts Aggressive Efforts To Secure Overseas Supplies
  Table: Copper Production, 2008-2015
Uranium: Production Set To Grow Over Long Term
Lead & Zinc: Production To Grow Steadily
  Table: Lead & Zinc Production, 2008-2015
Regulatory Development
Business Environment
Asia Mining Business Environment Ratings
Asia Pacific Mining Risk/Reward Ratings - Q311
Australia: Tops Again Despite Coal Problems, Rosy Outlook Ahead
China: Continues To Do Well As Restructuring Goes On
Indonesia: Proving To Be Asia's 'Next Big Thing'
India: Ratings Improve Slightly, But Could Still Slide
Philippines: Slow Rise Ensures It Remains Rooted, But Great Long-Term Potential
Political Outlook
Domestic Politics
Economic Outlook
  Table: South Korea - Economic Activity, 2008-2015
Competitive Landscape
Company Monitor
Pohang Iron And Steel Company (POSCO)
Korea Resources
Korea Zinc
Commodities Forecasts
Metals Update
Global Assumptions
  Table: Global Assumptions, 2009-2015
  Table: Regional Real GDP Growth, 2010-2013 (% change y-o-y)
  Table: Selected Exchange Rates, 2010-2013 (average)
Developed States
  Table: Developed States’ GDP Growth, 2010-2013 (% change y-o-y)
Emerging Markets
  Table: Emerging Market’s GDP Growth, 2010-2013 (% change y-o-y)
Consensus Forecasts
  Table: Consensus Forecasts, 2011 And 2012
Country Snapshot: South Korea Demographic Data
Section 1: Population
  Table: Demographic Indicators, 2005-2030
  Table: Rural/Urban Breakdown, 2005-2030
Section 2: Education And Healthcare
  Table: Education, 2002-2005
  Table: Vital Statistics, 2005-2030
Section 3: Labour Market And Spending Power
  Table: Employment Indicators, 2001-2006
  Table: Consumer Expenditure, 2000-2012 (US$)
  Table: Average Annual Wages, 2000-2012
Business Environment Ratings Methodology
  Table: Mining Business Environment Indicators
  Table: Weighting Of Components 62
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South Korea Mining Report Q1 2011 US$ 1,295.00 Jan, 2011 · 49 pages
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