China Targets Greenland for Mining. Tight profit margins in the mining industry along with consolidation among large multinationals, huge capital investments, high-tech automation and rigid equipment maintenance contracts have reduced job creation for nations with natural resources. Greenland, with 57,000 citizens, mostly indigenous, has vast deposits of minerals. A logical move
The most visible Chinese mining joint venture in Greenland thus far has been the Kvanefjeld Project in southern Greenland, namely a planned uranium and REE (neodymium, dysprosium, and yttrium
The two latter have both got closer to thegovernment after they obtained licences in Greenland.Some Chinese commentators believe that there werepolitical considerations at stake in General Nice’s 2015investment in the Isua iron ore project: i.e. to paveway for more Chinese companies to enter Greenland.Plans to speed up China’s interests and organize funding for Chinese mining
This applies to mining in Greenland as well. There is no evidence that everything China does in the Arctic is part of a grand strategy overseen by a specific state agency. The major projects that have attracted Chinese interest certainly make commercial sense. On the other hand, the major force driving that interest has been the Ministry of Land and Resources. The hand of the Chinese state
Greenland Minerals Aktie im Überblick: Realtimekurs, Chart, Fundamentaldaten, sowie aktuelle Nachrichten und Meinungen.
In other words, mining in Greenland is a business opportunity, but China is also seeking long-term political leverage through the limited options to become involved in the region. Even if China wanted to play a greater part in the geopolitics of the region it has limited options of engagement, as China scholar Yun Sun argues. China is restrained by its geographical distance to the region and
19.12.2018· The vast northern expanse of Greenland needs investment, and China is willing to help for a price.
How a potential Chinese-built airport in Greenland could be risky for a vital US Air Force base. By: Aaron Mehta . September 7, 2018 . Snow blows near the U.S. Air Force's Thule Air Base on March
15.01.2014· Greenland is looking for investors from the U.S. to Asia as the world’s largest island targets $4 billion in funds that the government predicts will allow the economy to double in
In late 2016, Greenland Minerals announced a partnership with the Chinese mining enterprise Shenghe Resources, that bought 12.5% of the shares in Greenland Minerals, and the two companies agreed that Shenghe Resources could buy up to 60%. 35) Zeuthen J & Raftopoulos M (2018) Promises of hope or threats of domination: Chinese mining in Greenland.
13.02.2019· At present, China represents over 90 percent of global rare earth extraction, but Greenland has the possibility of becoming another major hub for REE mining given estimated supplies. Chinese investment does present economic opportunities for Greenland, which has been seeking to diversify its economy away from a concentration on seafood, as well as the annual stipend given to the Greenland
Illegal mining has also plagued the sector. Source: Great Western Minerals Group. Aside from Greenland, China’s rare earths industry has other challengers to consider. According to Greenland’s
14.02.2019· It has invested large sums of money in natural resource mining such as uranium and zinc in Kvanefjeld, and iron ore in Isua. [v] The Greenlandic government has welcomed the investments, which currently account for 11.6% of GDP. Greenland considers Chinese investments as an important push towards financial independence from the massive Danish subsidies that make up 50% of Greenland’s
Chinese Mining in Greenland: Arctic Access or Access to Minerals? Patrik Andersson, Jesper Willaing Zeuthen & Per Kalvig The article studies Chinese interests in two Arctic advanced mineral exploration projects the Citronen Fjord zinc project in Northern Greenland and the Kvanefjeld (Kuannersuit) Rare Earth Element (REE)-uranium project in Southern Greenland.
01.07.2017· The Chinese actors were asked whether they had investment in Greenland’s mining industry between 1999 and 2015 ().The firms that responded “yes” were as follows: the provincial SOE Jiangxi Geology and Mineral Resource Exploration Bureau, the private Hong Kong-based company General Nice Group, and the large Central SASAC SOE China Minmetals Nonferrous Metals Holding
Greenland was a Danish colony until 1953, when it became part of the Danish Realm, and it gained “autonomous territory” status in 1979. Its 55,000 inhabitants of whom 17,000 reside in the capital Nuuk are more than 90% Inuit, an indigenous group from Central Asia. The government of Greenland has insisted that the island is “not for sale” and Frederiksen told reporters on
30.08.2019· Buying Greenland as a whole is off the table, but China is raiding the all-you-can-eat buffet there. This article by Petri Mäkelä originally appeared on Vantage Point North in 2019. Image : Reuters.
The vast northern expanse of Greenland needs investment, and China is willing to help for a price.
However, compared to many other stakeholders in the Arctic, Nuuk’s reaction toward China’s Arctic White Paper has been relatively lukewarm, which is probably a product of Greenland’s small