Greenland drilled to a giant treasure commodity

Greenland drilled to a giant treasure commodity

The dream of prosperity, the Social Democrat Hammond entered the election: She wants to make sure, that Greenland's raw materials are the own citizens. In fact, the people sitting on a huge treasure.

Nor are fish and shrimps Greenland's main export resources. But that will change on the pro-independence from Denmark island between the Atlantic and the Arctic Ocean soon: Mineral resources, Store in the Greenland ice-free coastal strip, to be developed, increase the wealth of the population and contribute to the financing of the sovereignty.

With the promise, to tap into this wealth for the residents, , the Social Democrat Aleqa Hammond, the general election on the giant Arctic island with only 57 000 Residents won confidently. The future prime minister will demand more from foreign investors, but also the far herschende mining ban on uranium and Rare earth loosen. Hammond struck with their party Siumut clear the previous left-wing Socialist Prime Minister Kuupik Kleist's parliamentary elections, was informed on Wednesday in the capital, Nuuk was.
Hammond had during the election campaign the previous prime minister accused a hasty sale of domestic resources to prospective Chinese. This had been established, among other things, that the Greenland minimum wage for thousands of Chinese miners in a planned iron ore mine can be placed north of Nuuk override.
Hammond announced yet on the election night, they'll put this scheme in the new parliament vote again. She also wants to impose higher taxation of foreign investors. Hammond is also seen for a relaxation of previously complete ban on uranium mining as well as for "rare earth" is a, which is important for high-tech products are.
The Grönlander are with the ex-colonial power Denmark since 2009 only in an "Empire Community" connected. You decide independently on all issues except the outer- and Security Policy. Half of Greenland has been covered but still by grants from Copenhagen. While there is an obvious way: their own natural resources, which are due to climate change has become much accessible.

Zinc from the citric fjord

"Greenland has to develop the resource sector", said Jorn Skov Nielsen, Deputy Minister of Economy, Labor and natural resources, when he these days on the PDAC Mining Exhibition in Toronto the mineral wealth of the island presented to an international audience.
Greenland wants, its budget is now funded yet to approximately half by grants from Copenhagen, cutting the cord from Denmark, revenue sources must be tapped. So far, the economy is based on a few pillars. Of the export revenues of 2,5 Billion Danish kroner (about 330 Million €) accounts for about 80 Percent on the sale of fish and shrimp. Tourism is another important factor taking, while on the mining industry has only one percent eliminated. "We have to Minerals, Oil and gas support ", Nielsen says.

Greenland relies on people like Jonathan Downes. He is a director of Australian company Ironbark, the 2015 in northern Greenland wants to take on citric Fjord, a zinc-lead mine in operation. With the citrus fruit has the inlet at the edge of the Greenland ice sheet, but nothing in common. The name he was given in memory of a Danish resistance fighters against the German occupation in World War II, Jorgen Haagen Schmith, of the code name "lemon" led.
Downes believes, that the zinc price attracts, when 2015/2016 should lead to bottlenecks in supply. "Then we're there." The price of zinc was in crisis 2009 to just over 1000 Crashed U.S. dollars per ton, and is now 2000 Dollar. On citric fjord is year-round and zinc promoted in the three months, where the inlet is navigable, exported.

According to the government could citric fjord among the ten largest zinc mines in the world. The map of Greenland, be displayed on the material stock with different colors, shows a ribbon along a large part of the 44.000 Kilometers of coastline. Only the south-western part of the coast with the capital Nuuk and in most places is mostly ice-free all year.

Canadians and Australians are lining

The Federal Institute for Geosciences and Natural Resources and the German Mineral Resources Agency DERA have in a study that "mineral resource potential of Greenland", compiled - from metals such as gold, Platinum, Silver, copper, Rare earths, Molybdenum, Tungsten and chromium on industrial minerals such as cryolite, Graphite and olivine to precious, Jewelry- and natural stones. Greenland offers opportunities for resource-hungry industries of Europe and North America and the Greenlandic population, because the increased use of local energy resources should finance the autonomy, says the DERA. Should be considered but also the interest of the Greenlanders and the rest of the world in protecting the "highly sensitive and unique ecosystem of the Arctic Greenland".

The associated "extremely high approval requirements, the difficult climatic conditions and the largely non-existing infrastructure would have to be taken into account in investment decisions.

About 40 Companies are involved in prospecting and mine development, more than half of which comes from Canada and Australia. 150 Licenses for prospecting, Exploration and mining operations are in force, more than ever. With almost 95 Million euros achieved exploration expenditures 2011 a peak.

Gold, Titan, rare earths

Greenland's politicians and the Geological Survey of Denmark and Greenland to see the island is now on the threshold of the exploration towards promising mining projects. Currently there is only one producing mine, the Nalunaq Gold Mine, by 2004 and 2008 Gold promoted, then a year and was shut down since 2010 again precious metal supplies.
Is temporarily shutting down mines as Seqi-Olivinmine in Nuuk, the zinc-lead mine Maarmorilik Black Angel and the molybdenum mine on the east coast at Malmbjerg, can produce at favorable market position again. For Black Angel, this is already provided. Very far in the approval process have progressed alongside the citric fjord-mine plans for the mining of rare earths in Kringlirne at the southern tip of Greenland, for the development of the iron ore bearing Isua in Nuuk and Rubin -, Requirements-, Titan- and vanadium deposits in the southwest.

Greenland believes its chances, with Kringlirne and other repositories of a large non-Chinese suppliers are important for the high-tech industry are rare earths. In coastal waters - roughly between Greenland and Canada - are oil- and gas reserves believed.
Greenland have an existing "on a global scale" huge resource potential and long term should be an important raw material suppliers, assesses the DERA.
But getting there is far. Mining in Greenland has experienced 100 Years of ups and downs. Mines were opened and closed, either, because the deposits were exhausted or the world price promotion made unprofitable.
But for the island, their gross domestic product 2009 just in 1,9 Billion was, are also a few mines, that may be available in the coming years, sizable boost in GDP and jobs mean a lot.

Those: Handelsblatt

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