Mining Introduction

North Korea was a steady though modest producer of gold and silver for many years, producing up to 15 tonnes (0.48 million oz) annually in the early 1990s (although no official statistics or mine details are available). However, output is thought to have halved in recent years due to the economic crisis in the country leading to lack of investment, and GFMS estimates that in 2001 only around 6.6 tonnes (0.21 million oz) of gold was produced.

The country's gold is sold through the central bank, with bars marked Central Bank Pyongyang Refiners or Central Bank DPR of Korea, which are good delivery on the London market.