Greenland Resources to Extract Metals in Greenland
Greenlandic Minister of Industry Naaja Nathanielsen and Greenland Resources A/S have signed a permit to mine molybdenum and magnesium in Mestersvig in Northeast Greenland.
The company has not confirmed when the extraction will start, but the extraction is expected to last for 20 years after start-up. During this period, the company expects an annual turnover of 700 million dollars.
The next step is to find investors for the start-up of the project.