Mineral Rush in Greenland; Independence May be Around the Corner

[phantom power]

Denmark currently provides their Arctic territory of 57,000 people with an annual subsidy of 3.4 billion crowns ($560 million). If Greenland can raise that much money on their own through mineral extractions, they would have little reason to continue as a Danish territory. The melting ice is starting to make these resources more accessible. Plus, supplies are shrinking and demand is rising, making these harder to reach places more economically viable.

"I think it opens many doors for the country," said Nukaaka Fleischer Hansen, a young Greenlander who works at the Ministry for Industry and Mineral Resources. "The outside world doesn't know much about Greenland. I used to study in Norway, and many of them knew nothing about Greenland, which made me sad. It's a beautiful country and it has many opportunities."

The minerals believed to be in Greenland include diamonds, gold, copper, platinum, uranium, aluminum, titanium, and other rare earth metals. Mining exploration is currently at its infant phase, and many more mines are likely to be found.

Foreigners are already beginning to knock at the doors. Within the last couple months, the Greenland premier has met with some geopolitical heavy hitters, including the US Secretary of State Hillary Clinton, European Commission President Jose Manuel Barroso, and representatives from the Chinese government.

http://www.enn.com/environmental_policy/article/44723?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+EnvironmentalNewsNetwork+%28Environmental+News+Network%29

[pscot]

1. Can beachfront condos

be far behind?

[DavidDvorkin]

2. If suddenly Greenland is producing lots of wealth

I wonder how Denmark will feel about them becoming independent.