VANCOUVER, CANADA. (RAREEARTHINVESTINGNEWS.COM) -- Greenland hosts enough of the rare earth minerals to supply a quarter of global demand for the next 50 years. While it has a rich history with minerals - very little has been done to advance projects. However, one of the biggest challenges is that only 15% of Greenland is free of ice.
|Mining and exploration in Greenland is limited |
to the coastal portions of the island.
Although there is not a great deal of mining going on already - there is a wealth of potential as the government is pro-mining and hosts gold, base metals, rare earths and diamonds. Greenland is similar to Canada and includes Archaean craton (a crust layer known for its riches in minerals). Despite its geological appeal - it is still vastly unexplored.
The bulk of Greenland is frozen under the Inland Ice Cap and has thus far hindered exploration. Mining would be limited to coastal portions of the island. There are also concerns as to whether mining could occur without damaging the country's pristine Arctic environment. One further problem could be the dispersion of Uranium dust which may be found whilst mining for minerals.
Source: Rare Earth Mining in Greenland. (Reliability: High)
Comment: It is reported that there is favorable mix of rare earths, yttrium and heavy rare earth oxides. According to the latest survey, a lot of rare earths were overlooked in the 1990's when exploration began.