KT Corporation to cooperate with Mongolian Monnis Group in rare earth elements mining

• Published date: 03 February 2023
• Publication title: Central Asian News Services

South Korean telecommunications giant KT Corporation signed a memorandum of understanding with Mongolian industrial holding conglomerate Monnis Group for a joint business venture into the rare earth minerals industry, The Korea Herald reported.

KT is now able to utilize Monnis Group's licenses related to mineral resource development and mining with which it plans to speed up the steady collection of minerals.

This comes after another memorandum previously signed on January 26 between KT and the Mongolian government for the supply of various mineral resources, including rare earth elements. Under the agreement, the parties will cooperate in the...