NORTH KOREA TO RESURRECT GOLD MINE TO REPAY DEBT

  Pyongyang and a group of Tokyo-based
  North Korean businessmen plan to resurrect a North Korean
  goldmine and boost annual output to almost one tonne within two
  years from 600 pounds at present, said Li Sangsu, a spokesman
  for &lt;Unzan Mine Development Co>, the venture partner.
      Work will begin on April 3 and the company aims to increase
  output to 10 tonnes within a decade to pay off Pyongyang's 70
  billion yen debt to 30 Japanese companies, Li added.
      "We expect this mine to be worth about 2,000 billion yen in
  gold deposits," he said.
      The mine, started in 1896 by a U.S. Company, is one of six
  or seven virtually untapped mines in the Unzan area, 94 miles
  north of Pyongyang, Li said.
      Li said modern equipment and advanced technology would
  increase yields. "Up to now, the mining was done with antiquated
  methods and basic equipment."
      The gold mine scheme is the latest in a series of moves by
  North Korea to clear its debts to Japanese creditors.
      Earlier this year, Pyongyang tried and failed to pay off
  part of its debt with several tonnes of fish.
  

