Greenland tosses out the Chicoms

 TFI Global News:

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Greenland bids adieu to Chinese mining company:

Reuters reported on Tuesday that Greenland has stripped a Chinese mining company of its license to an iron ore deposit near the capital Nuuk, dealing a huge blow to attempts by Chinese companies to gain a foothold on the resource-rich Arctic island.

Climate change has tamed the deadly winters in and around the Arctic, making the resource-rich territory more accessible and mining operations in the region, more lucrative. In 2015, China’s coal and iron ore importer, General Nice, had become the first Chinese company to set its foothold in the region by taking over the Isua mine project, previously owned by London Mining.

Greenland’s government alleged that Chinese companies had failed to make the agreed guaranteed payments. “We cannot accept that a licence-holder repeatedly fails to meet agreed deadlines,” Greenland’s Resources Minister Naaja Nathanielsen was quoted as saying by Reuters.

The government is also requiring the soon-to-exit Chinese company to submit all the geopolitical data collected during years of operations, deposit remaining payments of 1.5 million Danish crowns, and clean up the mining area.

Back to back setbacks for China in Greenland:

With the new government at the helm after April this year, Greenland has made it a priority to support environmentally responsible mining.

This year alone, the new government has banned uranium mining in the region, effectively halting the development of the Kuannersuit mine, one of the world’s biggest rare earth deposits, which is partly owned by a Chinese company.
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There is more.

It sounds like the Chicoms did not pay their bills.  Greenland was briefly in the news during the Trump administration when the President offered to buy the island territory.  At least they would have gotten paid.

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