There aren’t many vast untapped resource areas left in the world. There’s Mongolia, where major iron ore, copper, and coking coal investments are yielding major changes in the local economy. Another such opportunity is Greenland, part of the Kingdom of Denmark but self-governing since 2009. With a population of only 56,400 people, Greenland covers 836,100 square miles, three quarters of which is blanketed by the largest ice sheet outside of Antarctica.
One inheritance of Greenland’s close association with Denmark has been its zero tolerance to uranium mining and reluctance to consider any mining that might conceivably harm its pristine environment. But times are changing, and a growing sense of independence has been matched by the realization that in order to pay welfare and social costs, the country has to earn a living. Note: half of Greenland’s revenue comes from an annual grant paid by Denmark.
In a close run vote, the parliament voted to allow uranium mining and by extension mining that involves the production of radioactive waste, such as rare earths. Experts estimate that a mine in southern Greenland could contain the largest rare earth metals deposit outside China, which currently accounts for some 90% of global production, according to the Washington Post.
Source: MetalMiner
By Stuart Burns