Kim Jong Un opens Wonsan-Kalma tourist zone amid push to boost North Korea's ailing economy
North Korea's leader Kim Jong Un has officially opened a new tourist park, but there is no word on when the country will fully reopen to foreign visitors.
The Wonsan-Kalma coastal tourist zone has accommodation for nearly 20,000 guests who can swim in the sea, play sport, and eat at restaurants and cafeterias on site, state media said.
North Korean leader Kim Jong Un toured the site and cut the inaugural tape at a lavish ceremony on Tuesday, the state-run Korean Central News Agency (KCNA) reported on Thursday.
Mr Kim said its construction would be recorded as "one of the greatest successes this year" and called the site "the proud first step" toward realising the government's policy of developing tourism, according to KCNA.
The Wonsan-Kalma beach resort is North Korea's biggest tourist site.
KCNA said it will begin service for domestic tourists next Tuesday, but the report did not say when it will start receiving foreign tourists.
Observers say the resort likely required a huge investment from North Korea's limited budget, so it eventually will have to accept Chinese and other foreign tourists to break even.
Mr Kim has been pushing to make the country a tourism hub as part of efforts to revive the ailing economy, and the Wonsan-Kalma zone is one of his most talked-about tourism projects.
KCNA reported North Korea will confirm plans to build large tourist sites in other parts of the country, too.
But North Korea has not fully lifted a ban on foreign tourists that it imposed in early 2020 to guard against the COVID-19 pandemic.
Experts say North Korea has been slow to resume its international tourism because of remaining pandemic curbs, a flare-up of tensions with the US and South Korea in recent years and worries about Western tourists spreading a negative image of its system.
Starting from February 2024, North Korea has been accepting Russian tourists amid the booming military and other partnerships between the two countries, but Chinese group tours, which made up more than 90 per cent of visitors before the pandemic, remain stalled.
In February this year, a small group of international tourists visited the country for the first time in five years, but tourist agencies said in March that their tours to North Korea were paused.
Mr Kim's recent foreign policy prioritises relations with Russia as he's been supplying troops and conventional weapons to support its war against Ukraine in return for economic and military assistance.
However, North Korea's ties with China, which has long been its biggest trading partner and aid benefactor, have apparently cooled as China is reluctant to join an anti-Western alliance with North Korea and Russia, analysts say.
Tuesday's ceremony that marked the completion of the resort's construction drew the Russian ambassador to North Korea and his embassy staff, KCNA said. But it didn't say whether any Chinese diplomats were also invited.
"I think North Korea will soon accept Russian tourists, given the Russian Embassy officials attended the ceremony. Summer business is important" for the beach resort, said Lee Sangkeun, an expert at the Institute for National Security Strategy, a think tank run by South Korea's intelligence agency.
"There seems to be issues that North Korea hasn't yet resolved in its relations with China. But North Korea has put in too much money on tourism and plans to spend more. Subsequently, to get its money's worth, North Korea can't help receiving Chinese tourists," Mr Lee said.
Lim Eul-chul, a professor at Kyungnam University's Institute for Far Eastern Studies in Seoul, also said that foreign tourism to the Wonsan-Kalma site will begin with Russians. But he said Chinese tours to the zone, a sort of civilian exchange, will also begin soon, adding bilateral trade between China and North Korea has been recovering.
Mr Lim said that South Korean and American tours to North Korea won't likely restart anytime soon, though both new liberal South Korean President Lee Jae Myung and US President Donald Trump have expressed hopes to revive dialogue with North Korea.
In January, when Mr Trump boasted about his ties with Mr Kim, he said "I think he has tremendous condo capabilities. He's got a lot of shoreline," a likely reference to Wonsan-Kalma.
North Korea has not publicly responded to Mr Trump's outreach. It has repeatedly rejected Washington and Seoul's dialogue offers and focused on expanding its nuclear weapons program since Kim's high-stakes nuclear diplomacy with Mr Trump collapsed in 2019.
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High Voltage: China could knock Australia off top of lithium charts
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Instead, miners have been subject to government pressure to keep operations open (and jobs alive) so the country can maintain its market share as demand for the metal rises, Fastmarkets head of battery raw materials research, Paul Lusty told Reuters. There's plenty of strong demand drivers (particularly for EVs and battery storage systems) however the market remains in oversupply. Argonaut expects spot spodumene prices to peak at US$1500/t in late 2026, which is likely to trigger a restart of existing capacity. 'A return to a balanced market is then forecast for 2027 before the widening deficit pushes prices higher in the long-term," head of research Hayden Bairstow said. Fastmarkets says by 2025 Chinese miners are likely to extract 900,000t LCE, compared to Australia's 680,000t, Chile's 435,000t and Argentina's 380,000t. 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-13% $25,404,387 BCA Black Canyon Limited 0.105 9% 75% 59% 24% $13,613,323 VTM Victory Metals Ltd 0.895 9% 4% 124% 171% $98,187,944 IDA Indiana Resources 0.084 9% 5% 38% 95% $53,989,526 CHN Chalice Mining Ltd 1.67 8% 36% 53% 19% $620,497,727 YAR Yari Minerals Ltd 0.014 8% 133% 367% 367% $7,765,961 WC8 Wildcat Resources 0.145 7% -9% -38% -55% $181,516,739 WCN White Cliff Min Ltd 0.0225 7% -17% 32% 50% $57,921,268 INF Infinity Lithium 0.016 7% -20% -41% -69% $7,088,881 CMO Cosmometalslimited 0.017 6% -6% -2% -58% $5,798,441 WA1 Wa1Resourcesltd 15.48 6% 17% 22% -8% $986,618,856 LTR Liontown Resources 0.71 6% 12% 29% -21% $1,651,995,386 SRL Sunrise 0.9 5% 117% 319% 150% $98,102,473 RAG Ragnar Metals Ltd 0.021 5% 17% 11% 17% $9,005,734 GRE Greentechmetals 0.042 5% -14% -40% -68% $4,762,596 KFM Kingfisher Mining 0.048 4% 4% 20% -21% $2,578,320 PUR Pursuit Minerals 0.039 4% -3% -61% -74% $3,789,891 VUL Vulcan Energy 3.73 4% -13% -31% -3% $787,222,361 PLS Pilbara Min Ltd 1.35 4% -2% -38% -57% $4,006,322,857 STK Strickland Metals 0.14 4% 17% 75% 33% $316,730,372 A11 Atlantic Lithium 0.16 3% 14% -46% -56% $107,437,834 GLN Galan Lithium Ltd 0.098 3% -2% -22% -41% $90,049,970 CWX Carawine Resources 0.098 3% 2% -2% 4% $23,140,294 SGQ St George Min Ltd 0.033 3% 22% 32% 32% $82,857,495 BMM Bayanminingandmin 0.035 3% 25% -29% -33% $3,603,439 FRS Forrestaniaresources 0.075 3% -10% 477% 114% $22,978,660 FRB Firebird Metals 0.08 3% 0% -27% -52% $11,104,189 AQD Ausquest Limited 0.056 2% 10% 600% 426% $76,551,945 NIC Nickel Industries 0.7275 1% 8% -12% -11% $3,059,654,792 IPX Iperionx Limited 4.595 0% 29% -10% 135% $1,452,182,596 RIL Redivium Limited 0.004 0% 0% 0% 33% $13,609,422 LPD Lepidico Ltd 0.002 0% 0% 0% -33% $17,178,371 MRD Mount Ridley Mines 0.002 0% 0% -33% -80% $1,556,978 CLA Celsius Resource Ltd 0.007 0% 0% -36% -46% $18,812,931 MNS Magnis Energy Tech 0.042 0% 0% 0% 0% $50,378,922 QEM QEM Limited 0.038 0% -30% -22% -69% $8,746,813 SBR Sabre Resources 0.008 0% -11% -20% -56% $3,155,695 VRC Volt Resources Ltd 0.004 0% -20% 33% -20% $18,739,112 NMT Neometals Ltd 0.073 0% -16% 3% -18% $53,090,331 PNN Power Minerals Ltd 0.058 0% -9% -39% -57% $7,514,401 SRI Sipa Resources Ltd 0.015 0% 25% -17% 15% $5,829,577 BUX Buxton Resources Ltd 0.038 0% -19% -5% -43% $13,006,734 LIT Livium Ltd 0.009 0% -10% -49% -55% $15,214,564 ARN Aldoro Resources 0.31 0% -7% 3% 319% $56,785,536 JRV Jervois Global Ltd 0.011 0% 0% 0% -39% $29,730,402 SYR Syrah Resources 0.26 0% -17% 44% -24% $260,561,204 ALY Alchemy Resource Ltd 0.005 0% -17% -29% -17% $7,068,458 LEL Lithenergy 0.37 0% 0% 0% -4% $41,440,581 MRC Mineral Commodities 0.026 0% 0% 0% 24% $25,596,288 PEK Peak Rare Earths Ltd 0.28 0% 4% 197% 73% $100,353,234 WKT Walkabout Resources 0.095 0% 0% 0% -14% $63,769,838 TON Triton Min Ltd 0.005 0% -17% -44% -58% $7,057,749 CNJ Conico Ltd 0.007 0% 0% -30% -30% $1,905,020 BOA BOA Resources Ltd 0.02 0% 18% 0% -20% $2,467,057 SLZ Sultan Resources Ltd 0.005 0% -17% -29% -38% $1,157,350 SMX Strata Minerals 0.012 0% -8% -48% -48% $2,938,226 MLS Metals Australia 0.018 0% -10% -18% -10% $13,116,951 EFE Eastern Resources 0.029 0% 7% 4% -42% $3,656,608 AX8 Accelerate Resources 0.007 0% -13% 8% -82% $4,903,132 AM7 Arcadia Minerals 0.016 0% -16% -16% -61% $1,878,135 BYH Bryah Resources Ltd 0.012 0% 200% 300% 71% $10,439,442 DTM Dart Mining NL 0.003 0% 0% -67% -84% $3,594,167 EMS Eastern Metals 0.01 0% 0% -33% -68% $1,394,262 LSR Lodestar Minerals 0.006 0% -14% -60% -80% $1,910,543 TMB Tambourahmetals 0.022 0% -8% -4% -56% $3,088,891 OB1 Orbminco Limited 0.001 0% 0% -40% -52% $3,197,568 KZR Kalamazoo Resources 0.088 0% 4% 7% 4% $19,306,629 KOR Korab Resources 0.008 0% 0% 0% 14% $2,936,400 CMX Chemxmaterials 0.026 0% 0% 0% -47% $3,354,580 KGD Kula Gold Limited 0.007 0% 0% 24% -26% $6,448,776 ENV Enova Mining Limited 0.007 0% -13% 40% -42% $11,660,801 EMT Emetals Limited 0.003 0% 0% -25% -25% $2,550,000 PGD Peregrine Gold 0.16 0% 14% 45% -30% $13,575,639 RAS Ragusa Minerals Ltd 0.014 0% -7% 40% -18% $1,996,383 RGL Riversgold 0.004 0% 0% 33% -33% $6,734,850 IG6 Internationalgraphit 0.051 0% -2% 13% -14% $9,871,475 ODE Odessa Minerals Ltd 0.006 0% 20% 0% 50% $9,597,195 CLZ Classic Min Ltd 0.001 0% 0% 0% -50% $3,017,699 OD6 Od6Metalsltd 0.026 0% -4% -38% -43% $4,172,167 PEK Peak Rare Earths Ltd 0.28 0% 4% 197% 73% $100,353,234 KTA Krakatoa Resources 0.011 0% 0% 22% -8% $7,441,608 M24 Mamba Exploration 0.014 0% 0% 17% -13% $4,132,319 LLM Loyal Metals Ltd 0.13 0% 30% 30% -30% $13,095,298 LLL Leolithiumlimited 0.332997 0% 0% 0% 0% $401,204,047 SYR Syrah Resources 0.26 0% -17% 44% -24% $260,561,204 WSR Westar Resources 0.005 0% 11% -29% -44% $1,993,624 DYM Dynamicmetalslimited 0.255 0% -9% -9% 65% $12,516,506 TMX Terrain Minerals 0.002 0% -33% -33% -33% $5,063,629 FIN FIN Resources Ltd 0.004 0% -33% -20% -56% $2,779,554 HAW Hawthorn Resources 0.055 0% 10% 34% -11% $18,425,859 LCY Legacy Iron Ore 0.009 0% 0% 0% -28% $82,977,362 IGO IGO Limited 4.08 -1% -3% -15% -29% $2,983,635,183 CXO Core Lithium 0.09 -1% -2% 10% 5% $186,442,352 ARU Arafura Rare Earths 0.1675 -1% -1% 46% -7% $406,614,234 S2R S2 Resources 0.067 -1% -26% 3% -28% $32,537,794 A8G Australasian Metals 0.066 -1% -13% -15% -18% $3,820,722 INR Ioneer Ltd 0.0985 -2% -21% -36% -32% $252,992,734 RXL Rox Resources 0.285 -2% -7% 50% 138% $201,507,675 BM8 Battery Age Minerals 0.054 -2% 2% -46% -58% $6,460,267 DVP Develop Global Ltd 4.735 -2% 29% 115% 112% $1,309,294,241 PMT Patriotbatterymetals 0.245 -2% 2% -41% -56% $124,040,596 BHP BHP Group Limited 36.11 -2% -6% -9% -17% $183,294,079,606 ETM Energy Transition 0.045 -2% -8% 45% 114% $72,916,208 NC1 Nicoresourceslimited 0.088 -2% 21% -3% -30% $10,863,651 E25 Element 25 Ltd 0.22 -2% 5% -15% -2% $48,008,604 CHR Charger Metals 0.042 -2% -2% -34% -37% $3,174,230 JLL Jindalee Lithium Ltd 0.415 -2% -17% 77% 33% $30,677,184 PGM Platina Resources 0.0195 -3% -7% 8% -15% $12,463,607 JMS Jupiter Mines. 0.195 -3% 3% 39% -39% $382,403,143 HRE Heavy Rare Earths 0.036 -3% -5% 20% 14% $7,489,220 FG1 Flynngold 0.032 -3% 39% 19% 33% $12,522,127 SRZ Stellar Resources 0.0155 -3% -3% 3% -18% $31,196,259 LRV Larvottoresources 0.6 -3% -10% 28% 500% $235,018,106 EG1 Evergreenlithium 0.03 -3% -12% -53% -51% $6,806,927 PLL Piedmont Lithium Inc 0.088 -3% -9% -35% -37% $49,425,420 ADV Ardiden Ltd 0.145 -3% 0% 4% 16% $9,065,038 WMG Western Mines 0.145 -3% -31% -3% -61% $12,582,485 S32 South32 Limited 2.88 -3% -5% -16% -23% $12,800,639,958 PTR Petratherm Ltd 0.275 -4% -5% -8% 1428% $91,587,914 ILU Iluka Resources 3.635 -4% -7% -28% -45% $1,499,520,565 LOT Lotus Resources Ltd 0.1975 -4% 7% 7% -41% $450,272,832 AR3 Austrare 0.052 -4% -7% -44% -27% $11,023,343 FGR First Graphene Ltd 0.025 -4% -19% -7% -55% $18,720,339 LM1 Leeuwin Metals Ltd 0.125 -4% -11% 4% 178% $12,600,798 KM1 Kalimetalslimited 0.075 -4% -17% -29% -72% $6,213,559 LYC Lynas Rare Earths 9.175 -4% 13% 42% 51% $8,484,503,129 CTM Centaurus Metals Ltd 0.345 -4% -10% -4% -24% $173,845,425 GED Golden Deeps 0.021 -5% 17% -16% -40% $3,542,514 KAI Kairos Minerals Ltd 0.0305 -5% 9% 154% 205% $76,296,453 REE Rarex Limited 0.02 -5% 11% 150% 43% $18,403,280 DM1 Desert Metals 0.02 -5% 0% -13% 0% $9,288,018 ARL Ardea Resources Ltd 0.38 -5% -8% 23% -22% $76,800,714 AAJ Aruma Resources Ltd 0.0095 -5% -5% -14% -21% $2,951,465 EMN Euromanganese 0.19 -5% 0% 12% -42% $12,048,824 NVX Novonix Limited 0.38 -5% -22% -40% -49% $235,368,974 KNG Kingsland Minerals 0.076 -5% -28% -48% -62% $5,514,629 COB Cobalt Blue Ltd 0.056 -5% 0% -17% -24% $24,021,298 LKE Lake Resources 0.0275 -5% -14% -31% -35% $46,881,895 EGR Ecograf Limited 0.275 -5% -24% 206% 150% $133,968,887 OMH OM Holdings Limited 0.275 -5% -17% -23% -39% $218,383,188 MAN Mandrake Res Ltd 0.018 -5% 0% -18% -40% $11,290,679 QPM QPM Energy Limited 0.036 -5% -5% -29% 6% $90,910,441 SCN Scorpion Minerals 0.018 -5% 0% 38% 20% $9,957,068 WIN WIN Metals 0.018 -5% -5% 6% -25% $9,901,051 GT1 Greentechnology 0.018 -5% -28% -71% -77% $8,553,061 DEV Devex Resources Ltd 0.071 -5% -13% -24% -75% $32,243,419 BSX Blackstone Ltd 0.087 -5% 34% 200% 98% $63,138,355 WR1 Winsome Resources 0.13 -5% -13% -69% -82% $31,706,149 HAS Hastings Tech Met 0.255 -6% -19% -19% -7% $48,160,864 MRR Minrex Resources Ltd 0.0085 -6% -23% 6% -6% $9,221,374 EMH European Metals Hldg 0.165 -6% -25% -6% -34% $33,191,153 KOB Kobaresourceslimited 0.033 -6% -12% -56% -78% $5,782,533 ESR Estrella Res Ltd 0.049 -6% 32% 133% 1125% $98,493,929 PSC Prospect Res Ltd 0.16 -6% 14% 74% 0% $112,093,948 ASL Andean Silver 0.995 -6% 5% 24% 14% $152,422,805 FTL Firetail Resources 0.076 -6% 27% -5% 0% $29,262,154 EUR European Lithium Ltd 0.06 -6% 15% 76% 20% $70,813,892 NTU Northern Min Ltd 0.03 -6% 11% 50% -6% $259,071,830 CRI Criticaltd 0.015 -6% 7% 15% -29% $43,159,178 MEI Meteoric Resources 0.1125 -6% 7% 31% -30% $257,054,906 ASN Anson Resources Ltd 0.044 -6% -17% -21% -56% $61,016,408 MIN Mineral Resources. 21.14 -6% -11% -38% -62% $3,965,745,429 BNR Bulletin Res Ltd 0.058 -6% -15% 49% 26% $17,616,799 ITM Itech Minerals Ltd 0.029 -6% -15% -43% -44% $5,125,062 MLX Metals X Limited 0.5425 -6% 2% 36% 34% $474,219,473 AGY Argosy Minerals Ltd 0.014 -7% -22% -50% -81% $21,838,814 SYA Sayona Mining Ltd 0.014 -7% -13% -46% -60% $161,606,144 EMC Everest Metals Corp 0.14 -7% -7% 4% 17% $31,378,376 1AE Auroraenergymetals 0.055 -7% -28% 25% -14% $9,311,314 ABX ABX Group Limited 0.038 -7% -10% 19% -19% $9,067,734 BKT Black Rock Mining 0.025 -7% -4% -29% -54% $35,338,557 CY5 Cygnus Metals Ltd 0.087 -7% 13% -8% 93% $74,048,455 CDT Castle Minerals 0.074 -8% -20% -1% -38% $8,584,708 IPT Impact Minerals 0.006 -8% 0% -39% -58% $23,731,980 GW1 Greenwing Resources 0.024 -8% -20% -31% -45% $7,032,638 NWM Norwest Minerals 0.012 -8% 0% -12% -56% $11,620,303 OM1 Omnia Metals Group 0.012 -8% 9% -85% -85% $2,605,100 GCM Green Critical Min 0.023 -8% 64% 156% 475% $53,997,423 MTM MTM Critical Metals 0.62 -8% 80% 235% 1532% $293,260,733 RNU Renascor Res Ltd 0.056 -8% -16% -2% -40% $137,330,335 PVW PVW Res Ltd 0.011 -8% 0% -15% -48% $2,386,857 AZL Arizona Lithium Ltd 0.0055 -8% -8% -54% -71% $26,351,572 VMC Venus Metals Cor Ltd 0.105 -9% -5% 67% 50% $20,593,512 TLG Talga Group Ltd 0.4 -9% -4% -6% -35% $181,837,210 GAL Galileo Mining Ltd 0.1 -9% -20% -13% -50% $19,762,493 VHM Vhmlimited 0.2 -9% -17% -52% -52% $48,178,291 MHC Manhattan Corp Ltd 0.02 -9% -17% -5% -20% $4,463,079 CNB Carnaby Resource Ltd 0.345 -9% 17% -1% -34% $82,219,989 ARR American Rare Earths 0.245 -9% 0% -8% 0% $126,855,825 LPM Lithium Plus 0.058 -9% -11% -31% -61% $7,704,720 VR8 Vanadium Resources 0.019 -10% 27% -41% -69% $10,157,254 WC1 Westcobarmetals 0.019 -10% 19% 19% -47% $3,542,451 NVA Nova Minerals Ltd 0.32 -10% 0% -9% 68% $108,204,135 FBM Future Battery 0.018 -10% 6% -5% -45% $12,453,479 IMI Infinitymining 0.009 -10% 0% -18% -40% $3,807,142 THR Thor Energy PLC 0.009 -10% -18% -31% -40% $7,107,898 SLM Solismineralsltd 0.081 -11% -10% 14% 1% $11,163,198 RMX Red Mount Min Ltd 0.008 -11% 0% -20% -20% $4,184,620 MHK Metalhawk. 0.39 -11% -17% 39% 696% $52,306,302 1MC Morella Corporation 0.015 -12% -21% -46% -80% $5,467,604 L1M Lightning Minerals 0.06 -12% 0% -19% -17% $6,199,699 PAT Patriot Resourcesltd 0.052 -12% -19% 21% -13% $8,321,168 DLI Delta Lithium 0.165 -12% -11% 0% -25% $118,229,396 TVN Tivan Limited 0.092 -12% -12% 2% 23% $190,239,473 GBR Greatbould Resources 0.063 -13% -3% 50% 9% $47,928,684 IXR Ionic Rare Earths 0.0105 -13% 50% 75% 5% $52,674,258 AKN Auking Mining Ltd 0.007 -13% 0% 40% -68% $4,023,451 REC Rechargemetals 0.013 -13% -32% -28% -55% $3,340,870 AXE Archer Materials 0.225 -13% -15% -46% -31% $58,614,813 ASM Ausstratmaterials 0.535 -14% 6% 9% -30% $94,297,155 BC8 Black Cat Syndicate 0.77 -14% -8% 33% 157% $558,926,958 ICL Iceni Gold 0.055 -14% -8% -15% -14% $18,538,275 CRR Critical Resources 0.003 -14% 0% -50% -63% $7,842,664 EV1 Evolutionenergy 0.012 -14% 20% -48% -64% $4,351,806 AVL Aust Vanadium Ltd 0.0085 -15% -15% -29% -39% $77,711,923 RON Roninresourcesltd 0.14 -15% -30% -18% 17% $5,652,501 CAE Cannindah Resources 0.022 -15% -39% -45% -57% $16,017,759 G88 Golden Mile Res Ltd 0.011 -15% -27% 38% 0% $6,530,974 LMG Latrobe Magnesium 0.008 -16% -33% -60% -83% $21,012,720 AS2 Askarimetalslimited 0.005 -17% -29% -58% -89% $2,020,853 LIN Lindian Resources 0.1 -17% -17% 25% -9% $116,342,224 KNI Kunikolimited 0.1 -17% -23% -47% -57% $8,170,881 STM Sunstone Metals Ltd 0.014 -18% -7% 100% 47% $84,976,633 PFE Pantera Lithium 0.011 -19% -21% -35% -67% $4,737,837 MEK Meeka Metals Limited 0.1425 -19% 2% 90% 319% $451,934,301 OCN Oceanalithiumlimited 0.056 -19% -5% 115% 58% $9,297,502 DRE Dreadnought Resources Ltd 0.0095 -21% -21% -14% -59% $45,715,500 AZI Altamin Limited 0.018 -22% -33% -28% -48% $10,915,555 PNT Panthermetalsltd 0.013 -24% -13% 8% -29% $3,911,759 PVT Pivotal Metals Ltd 0.009 -25% 50% 13% -36% $8,165,033 RVT Richmond Vanadium 0.09 -25% -36% -57% -65% $17,963,338 ASR Asra Minerals Ltd 0.0015 -25% -25% -50% -63% $5,987,547 ANX Anax Metals Ltd 0.005 -29% -38% -55% -78% $3,531,230 TAR Taruga Minerals 0.007 -30% -13% -30% 0% $4,996,278 QXR Qx Resources Limited 0.002 -33% -50% -50% -71% $3,930,987 LNR Lanthanein Resources 0.001 -33% 0% -67% -71% $2,810,182 LNR Lanthanein Resources 0.001 -33% 0% -67% -71% $2,810,182 LU7 Lithium Universe Ltd 0.006 -40% 0% -29% -57% $5,501,857 CZN Corazon Ltd 0.001 -50% -50% -60% -83% $1,776,858 TKL Traka Resources 0.001 -50% -33% 0% -33% $2,125,790 ADD Adavale Resource Ltd 0.001 -50% -50% -50% -80% $2,287,279 AOA Ausmon Resorces 0.001 -50% -50% -33% -50% $2,622,427 PRL Province Resources 0 -100% -100% -100% -100% $0 POS Poseidon Nick Ltd 0 -100% -100% -100% -100% $23,380,727 AML Aeon Metals Ltd. 0 -100% -100% -100% -100% $5,482,003 LRS Latin Resources Ltd 0 -100% -100% -100% -100% $477,661,711 CAI Calidus Resources 0 -100% -100% -100% -100% $93,678,206 ASO Aston Minerals Ltd 0 -100% -100% -100% -100% $28,491,414 LTM Arcadium Lithium PLC 0 -100% -100% -100% -100% $1,994,929,982 EV Resources (ASX:EVR) The company has appointed Miguel Barahona as President of Stibcorp, a fully owned Mexican subsidiary that holds its 70% interest in the Los Lirios antimony joint venture. The project consists of four licences covering 1652ha (16.52km2), three open pits, and several underground workings on a 7km trend that date back several generations. And the company is eyeing a restart of the open pit Mexican mine. It could be perfect timing, with the antimony price more quadrupling in the past year, rising from around US$13,000 to US$60,000 per tonne following China's export restrictions, then complete ban, of the mineral's sale to the US. It's used in a swathe of applications from weapons and flame retardants to solar panels, making it essential for national security and energy reliability. EVR is currently preparing for a work program at Los Lirios that includes examining sites for a pilot processing plant, and clearing and sorting broken material in the two past producing pits. 'We welcome Miguel to the EVR team, and are delighted to have his leadership as we prepare to advance the Los Lirios project,' MD Hugh Callaghan said. Catalina Resources is gearing up to start initial RC drilling within the Central Yilgarn project in H2 2025. The company acquired the Yerilgee and Evanston greenstone belts back in January from a wholly owned subsidiary of Dreadnought Resources (ASX:DRE). The project area covers an area of over 650km2, and over approximately 65km of strike, along the Yerilgee and Evanston greenstone belts. Catalina says the tenements present a rare exploration play over multiple greenstone belts with proven mineralisation potential for gold, iron ore, lithium, nickel and copper-zinc-silver massive sulphides. The drilling will focus on seven walk-up targets. Evion Group (ASX:EVG) Vertically integrated graphite developer Evion Group has reached an agreement to supply expandable graphite from its Indian joint venture to a leading US graphite supply chain company with its shares rising as high as 1.9c on Thursday. The maiden US order represents around 80 tonnes of expandable graphite shipped from the 50/50 JV Panthera graphite facility near Pune, India. About $400,000 in revenue will be generated from the order, which follows the maiden shipment for the JV in the March 2025 quarter. 'This shipment signals a broader shift in the global supply landscape, with growing demand from US industries for high-quality, non-Chinese sources of critical minerals like expandable graphite,' Evion managing director David Round said. 'Our Panthera Graphite facility has demonstrated its ability to deliver at scale, and we hope this is the first step in establishing a strong, long-term, strategic partnership with the US market. 'We believe this is likely to be the first of many future orders and we look forward to updating the market shortly around our planned, substantial growth and development plans in India.' Negotiations continue to regularly supply the US and other global buyers in Europe and Asia. Expandable graphite is essential for thermal management and fire retardancy across the aerospace, EV, energy storage, military applications and electronics sectors.
News.com.au
2 hours ago
- News.com.au
Australia's ghosted islands, resorts abandoned and under siege
A shocking tale of neglect and abandoned opportunities is unfolding in one of Australia's most cherished regions as a dozen once-thriving island resorts lie in ruins. Critics warn the derelict properties are a blight on the pristine beauty of the Great Barrier Reef, left to decay by absentee owners who have turned their backs on resorts that were once jewels of the tourism industry. From cyclone-ravaged Double Island, once held by billionaire Benny Wu and now under state control, to the ghostly remains of Hinchinbrook Island Resort, these islands are a haunting reminder of what could have been. The Queensland government, under Premier David Crisafulli, is cracking down – issuing ultimatums to negligent owners to either revive their properties or face losing their leases. The economic impact is undeniable, with a government inquiry into island resorts warning such long-abandoned sites represent a colossal missed opportunity for the economy and the tourism industry. Pressure is building with the world spotlight set to focus on the region in a little over a handful of years when the Olympics are hosted in the state. MORE: Cash-strap student turns $40k to 38 homes Govt pays $3.3m for unliveable derelict house Queensland Tourism Industry Council CEO Natassia Wheeler expressed her dismay: 'It's disappointing to see so many of Queensland's island resorts closed. Island tourism put Queensland on the map decades ago, and whether or not visitors choose to stay on an island, these destinations remain critical to positioning Queensland as a leading holiday destination.' She said the need for investment was dire. 'Reinvigorating island resorts will require significant investment, particularly in infrastructure including transport to ensure accessibility, along with a reduction in red tape.' 'The industry that we represent tells us that streamlining operational and approval processes is essential to the long-term success of the state's island resorts.' But there's a glimmer of hope. New investors, like Annie Cannon-Brookes - wife of billionaire co-founder of Atlassian Mike Cannon-Brookes - who bought the beleaguered Dunk Island – are being heralded as offering a chance to breathe new life back into forgotten paradises. Ms Wheeler said there are strong examples of success to draw from. 'Hamilton Island, InterContinental Hayman Island, and Daydream Island in the Whitsundays continue to perform well thanks to major investment, strong brand presence, and reliable access.' 'In Central Queensland, Heron, Wilson, and Lady Elliot Islands are thriving with eco-focused models that offer unique Great Barrier Reef experiences. Further north, Orpheus Island near Townsville stands out as a high-end, sustainably operated resort attracting premium travellers.' 1. Double Island (Cairns Region) Status: Abandoned; resort in ruins. Ownership: Previously owned by Benny Wu; now state-owned. Current Status: Queensland government issued an ultimatum to redevelop or forfeit lease. 2. South Molle Island (Whitsundays) Status: Resort devastated by Cyclone Debbie in 2017; remains abandoned. Ownership: Previously purchased by a Chinese company; now under state control. Current Status: Up for sale; expressions of interest sought for redevelopment. 3. Lindeman Island (Whitsundays) Status: Club Med resort abandoned; uninhabited for nearly a decade. Ownership: Recently bought after 10 years of vacancy. Current Status: Restoration efforts began in early 2024. 4. Hook Island (Whitsundays) Status: Abandoned after Cyclone Anthony in 2011. Ownership: New owner plans eco-lodge development. Current Status: Development application for $40 million eco-lodge lodged. 5. Brampton Island (Mackay Region) Status: Resort closed; infrastructure deteriorating. Ownership: Owned by United Petroleum since 2010. Current Status: Resort remains abandoned; future uncertain. 6. Great Keppel Island (Yeppoon) Status: Resort deteriorating since 2008 financial crisis. Ownership: Ownership changes; current status unclear. Current Status: Efforts to revive resort ongoing. 7. Laguna Quays (Near Airlie Beach) Status: Resort closed shortly after opening due to bankruptcy. Ownership: Ownership and future plans unclear. Current Status: Resort remains abandoned. 8. Capricorn Resort (Yeppoon) Status: Closed in 2016 due to neglected facilities. Ownership: Ownership and future plans unclear. Current Status: Resort remains abandoned. 9. Keswick Island (Mackay Region) Status: Resort inactive; Chinese leaseholder controversies. Ownership: Owned by Chinese company; leaseholder issues. Current Status: Queensland government threatening to seize control. 10. Dunk Island – QLD Status: Iconic resort wiped out by Cyclone Yasi (2011). Current: Remains in ruins; several failed redevelopment attempts. Ownership: Privately owned (recently sold in 2022); no confirmed rebuild. 11. Hinchinbrook Island Resort – QLD Status: Luxury wilderness lodge closed after Cyclone Yasi. Current: Site vandalised and collapsing. Ownership: Privately owned; no development activity. 12. St Bees Island – QLD Status: Not necessarily rundown as under-utilised. Resort facilities are unused, the island is leased long-term. Current: Known for rock wallabies; tourism infrastructure inactive.
ABC News
6 hours ago
- ABC News
Kim Jong Un opens Wonsan-Kalma tourist zone amid push to boost North Korea's ailing economy
North Korea's leader Kim Jong Un has officially opened a new tourist park, but there is no word on when the country will fully reopen to foreign visitors. The Wonsan-Kalma coastal tourist zone has accommodation for nearly 20,000 guests who can swim in the sea, play sport, and eat at restaurants and cafeterias on site, state media said. North Korean leader Kim Jong Un toured the site and cut the inaugural tape at a lavish ceremony on Tuesday, the state-run Korean Central News Agency (KCNA) reported on Thursday. Mr Kim said its construction would be recorded as "one of the greatest successes this year" and called the site "the proud first step" toward realising the government's policy of developing tourism, according to KCNA. The Wonsan-Kalma beach resort is North Korea's biggest tourist site. KCNA said it will begin service for domestic tourists next Tuesday, but the report did not say when it will start receiving foreign tourists. Observers say the resort likely required a huge investment from North Korea's limited budget, so it eventually will have to accept Chinese and other foreign tourists to break even. Mr Kim has been pushing to make the country a tourism hub as part of efforts to revive the ailing economy, and the Wonsan-Kalma zone is one of his most talked-about tourism projects. KCNA reported North Korea will confirm plans to build large tourist sites in other parts of the country, too. But North Korea has not fully lifted a ban on foreign tourists that it imposed in early 2020 to guard against the COVID-19 pandemic. Experts say North Korea has been slow to resume its international tourism because of remaining pandemic curbs, a flare-up of tensions with the US and South Korea in recent years and worries about Western tourists spreading a negative image of its system. Starting from February 2024, North Korea has been accepting Russian tourists amid the booming military and other partnerships between the two countries, but Chinese group tours, which made up more than 90 per cent of visitors before the pandemic, remain stalled. In February this year, a small group of international tourists visited the country for the first time in five years, but tourist agencies said in March that their tours to North Korea were paused. Mr Kim's recent foreign policy prioritises relations with Russia as he's been supplying troops and conventional weapons to support its war against Ukraine in return for economic and military assistance. However, North Korea's ties with China, which has long been its biggest trading partner and aid benefactor, have apparently cooled as China is reluctant to join an anti-Western alliance with North Korea and Russia, analysts say. Tuesday's ceremony that marked the completion of the resort's construction drew the Russian ambassador to North Korea and his embassy staff, KCNA said. But it didn't say whether any Chinese diplomats were also invited. "I think North Korea will soon accept Russian tourists, given the Russian Embassy officials attended the ceremony. Summer business is important" for the beach resort, said Lee Sangkeun, an expert at the Institute for National Security Strategy, a think tank run by South Korea's intelligence agency. "There seems to be issues that North Korea hasn't yet resolved in its relations with China. But North Korea has put in too much money on tourism and plans to spend more. Subsequently, to get its money's worth, North Korea can't help receiving Chinese tourists," Mr Lee said. Lim Eul-chul, a professor at Kyungnam University's Institute for Far Eastern Studies in Seoul, also said that foreign tourism to the Wonsan-Kalma site will begin with Russians. But he said Chinese tours to the zone, a sort of civilian exchange, will also begin soon, adding bilateral trade between China and North Korea has been recovering. Mr Lim said that South Korean and American tours to North Korea won't likely restart anytime soon, though both new liberal South Korean President Lee Jae Myung and US President Donald Trump have expressed hopes to revive dialogue with North Korea. In January, when Mr Trump boasted about his ties with Mr Kim, he said "I think he has tremendous condo capabilities. He's got a lot of shoreline," a likely reference to Wonsan-Kalma. North Korea has not publicly responded to Mr Trump's outreach. It has repeatedly rejected Washington and Seoul's dialogue offers and focused on expanding its nuclear weapons program since Kim's high-stakes nuclear diplomacy with Mr Trump collapsed in 2019.
