Naalakkersuisut, which is the government of Greenland, has withdrawn a Chinese mining company its license to an iron ore deposit near Nuuk.
“Naalakkersuisut has decided not to grant further extensions to the company London Mining Greenland A / S. The Isukasia operating license in West Greenland is therefore returned,” the government said in a statement. declaration November 22
London Mining Greenland went bankrupt in 2015 and Chinese coal and iron importer General Nice took control of the Isua mine project.
The Government of Greenland said it issued an iron ore mining permit for an area near Isukasia in West Greenland on October 23, 2013, but eight years later the project has yet to become a mine.
Minister of Housing, Infrastructure, Raw Materials, Justice and Gender Equality Naaja H. Nathanielsen said: âWe cannot accept that a licensee repeatedly fails to comply with agreed deadlines. We cannot ignore the fact that a right holder, despite repeated reminders, does not deposit the agreed amounts. If one rights holder cannot fulfill his obligations, others must be able to. This is a fundamental principle of the Mineral Resources Act.
âThe rules of the Mineral Resources Law were created to ensure a good framework for mining and to ensure the advancement of projects and generate income for the country. Naalakkersuisut takes the development of raw materials seriously and hopes for serious partnerships, âthe minister noted in the press release.
In addition, the government has stated that the London Mining area will be offered to new interested companies once it has been formally returned. âAlong with the return, the Mineral Resources Authority is now starting to prepare for the reopening of the area for new applicants. The reopening will take place in public, âthe statement said.