June 29, 2022

Greenland strips Chinese mining firm of license to iron ore deposit

Greenland strips Chinese mining firm of license to iron ore deposit

Greenland strips Chinese mining firm of license to iron ore deposit

By Reuters
22 November 2021

COPENHAGEN, Nov 22 (Reuters) – Greenland said on Monday it has stripped a Chinese mining company of its licence to an iron ore deposit near the capital Nuuk, dealing a blow to attempts by Chinese companies to gain a foothold on the resource-rich Arctic island.

General Nice, a Chinese coal and iron ore importer, took control of the Isua mine project in 2015, replacing previous owner London Mining, which went bankrupt.

It was the first Chinese firm to have the right to exploit minerals in Greenland, which has attracted international interest as climate change has opened up waterways and access to the vast Arctic island’s mineral resources.

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