Greenland, China General Nice iron ore mining license revoked:
-Chinese companies do not meet payment deadlines-
Arctic island nation
Greenland Autonomous Government
On November 22, it announced that it had revoked the iron ore mining license of the China Shun’an Group (General Nice).
This cancellation decision is
Aiming for Greenland resources,
It’s going to be a big blow to Chinese companies.
Reuters:
Chinese coal and iron ore import company
Shunan Group
Acquired Isua Iron Ore on the west coast of Greenland.
It owns a mining license on behalf of its former owner, London Mining, which went bankrupt in 2015.
It was the first Chinese company to acquire a mining right in Greenland.
Mining rights of the Shunan Group:
However, the Shunan Group failed to meet the payment deadline for the Greenland Autonomous Government.
As a result, the Shun’an Group’s iron ore mining license was revoked.
The Epoch Times
https://www.epochtimes.jp/2021/11/82278.html
Greenland strips Chinese mining firm of licence to iron ore deposit
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.
The licence was withdrawn because of inactivity at the site,
the government said in a statement, adding it will be offered to new interested companies once it has formally been handed back.
The company also failed to make the agreed guarantee payments, it said.
“We cannot accept that a licence-holder repeatedly fails to meet agreed deadlines,” Greenland’s Resources Minister Naaja Nathanielsen said.
The government requested that
all geological data is returned, remaining payments of 1.5 million Danish crowns are deposited, and the mining area is cleaned up.
London Mining, which obtained the exploitation licence in 2013,
had initially planned to hire some 2,000 Chinese workers to construct the project and aimed to supply China with around 15 million metric tonnes of iron ore a year.
Reuters