GENERAL NICE DEVELOPMENT
General Nice Development Ltd , the new owner of the Isua iron ore project in Greenland is on a mission to move forward the country ’ s mineral resources to meet future demand from China and other rapidly urbanising world markets
Back in October 2013 the Greenland government awarded UK-based company London Mining a 30 year licence to build and run a giant iron ore mine at Isukasia in Western Greenland . At the time it was described by Greenland ’ s Industry Minister as the largest commercial project in the island nation ’ s history . Greenland is an autonomous territory still administered by Denmark , however it is moving towards greater independence , and sees the development of a strong mining industry as the strategy that will give it the economic clout to do so .
That ambition has been clouded somewhat over the last few years by the weakening of commodity prices on the international exchanges , however the fundamentals remain strong . In particular global steel demand is expected to recover as China ’ s economy continues to grow .
A team from Sichuan Xinye Investment Corporation of Mining & Exploration , and Sichuan Bureau of Metallurgical Geology & Exploration visit Isua site .
100 May 2015