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Chinese mining enterprises to consider investment Greenland targeting iron, zinc and rare earth

According to media reports, Greenland is brewing a large iron ore mining plan, while thus employed workers, the local population may be a sudden increase of 4%.

It is reported that the $ 2.3 billion project by the British company London Mining development, and also include the construction of a diesel power plant, the construction of a road, and the construction of a port near the capital, Nuuk in Greenland. The project intends to financing from China, and plans to transport about 15 million tons of iron ore a year to China from the the Sihanouk nearby fjords.

Global warming melt open Arctic waterway, countries will turn their attention to the mineral resources of Greenland hidden below. Alone is the exploitation of a mine in southern Greenland, Greenland Minerals and Energy Australia, its rare earth reserves may exceed 10% of the world's reserves. In addition, Greenland's crude oil reserves may reach 200 billion barrels. Greenland Minerals and Petroleum Bureau, said its crude oil reserves may be equivalent to half of the North Sea oil fields.

The island 57,000 Greenlanders are entangled in can bring huge wealth of opportunities and risks - parallel from the original ecological environment and traditional society may be destroyed. Follow the example of Norway, Greenland government has approved the establishment of a sovereign wealth fund, will invest in new revenue.

The land also showed interest in fancy rich reserves of iron, zinc and rare earth resources.

Government of Greenland are also looking for investors everywhere. Located in the south-western coast of Greenland capital of Nuuk from Newfoundland 1000 sea miles north of a population of 1.6 million people, the city's only two traffic lights, but the new building is spread everywhere: for foreign-funded office office, and even a new shopping center.

Compared to investment in Africa and Latin America, the Chinese government's footprint in the Arctic is very light, no mining or oil projects started in Greenland. However, Kleist said, countries such as China and South Korea shows that the willingness to invest than the United States and Europeans positive.

Greenland Minerals and Petroleum has issued about 150 mineral exploration license, a decade ago, only a handful. Enterprises in local spending has reached about $ 100 million in the last year alone, more than 1 billion U.S. dollars, the oil company's offshore exploration expenditures. Including the exploration of rare earth ore.

Capacity constraints including Greenland has the ability to protect the ecosystem. Some large oil firms said that mining is not worth the risk of leakage in case of an accident, the consequences could be devastating, and here also the lack of clean-up facilities.
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Chinese mining enterprises to consider investment Greenland targeting iron, zinc and rare earth

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