China eyes Greenland resource boom

The promise of a resources boom has Greenland’s locals both eager and anxious, while the European Union sees it as a battleground with China, but the island is still a long way from producing anything.

Retreating ice is exposing huge deposits of iron ore, rare earths and hydrocarbons, but it has yet to launch a single major mining project, and oil and gas production is a decade away at best.

via Business feed http://www.scmp.com/business/economy/article/1190547/china-eyes-greenland-resource-boom