S. Korea to Hold Gas, Minerals Cooperation Talks With Australia

South Korea, the world’s second- biggest liquefied natural gas buyer, will hold talks with energy and commodity suppliers operating in Australia on expanding cooperation to ensure supplies of the fuel and other minerals.

Representatives from companies including Chevron Corp. (CVX), BHP Billiton Ltd. and Rio Tinto Group will meet with officials from the Knowledge Economy Ministry in Seoul today, the ministry said in an e-mailed statement.

Australia supplied $11.9 billion of minerals to South Korea in 2010, accounting for 42 percent of the country’s mineral imports. South Korea had invested $2.8 billion in Australia as of June, or 30 percent of its investment in overseas mineral resources, according to the ministry.

To contact the reporters on this story: Sangim Han in Seoul at sihan@bloomberg.net

To contact the editor responsible for this story: Amit Prakash at aprakash1@bloomberg.net.

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