Category Archives: FDI

Greenland: Mining the Future

altThere is extensive political agreement in Greenland that the country’s mineral sector should be developed into a principal industry contributing positively to economic development and the creation of new jobs. This objective is a vital element of the plan for long-term economic development, which includes the development of business sectors as an alternative to the fisheries sector. Greenland’s government aims to maintain a high level of mineral exploration to further incentivize the mineral resources industry to obtain exploration and exploitation licenses. In an interview, Peter Beck of Greenland’s Ministry of Finance and Henrik Stendal of the Ministry of Mineral Resources explain this strategy.

1. Can you provide us with an overview of Greenland’s current economic status, including its main industries and trading partners? Economic outlook
There was a drop in economic activity in Greenland in both 2012 and 2013, and the decline seems to have continued in 2014. This is due to a combination of declining shrimp fishing, falling resources activities, a drop in tourism and less building and construction activity. Experimental mackerel fishing is contributing to increased economic activity but was not sufficient to prevent the economy decelerating in 2014.

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North American Nickel Given Green Light

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altNickel is one of the oldest known metals, with uses tracing back more than 5,000 years. It is a fundamental metal that is needed for every day applications, particularly in stainless steel. Nickel has corrosion-resistant properties that make it a vital component in various alloys and super alloys. Some common applications include household appliances, computers, cellular phones, vehicles, medical and heating devices as well as industrial, military, aerospace, marine and architectural applications.

North American Nickel is a Canadian junior mineral exploration company focused on advancing and developing high quality nickel-copper sulphide projects. The company’s key asset is its 100%-owned Maniitsoq project located in southwest Greenland. North American Nickel is listed on the TSX Venture exchange and is well funded with strong cornerstone investors.

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Iceland -New Opportunities for Investors

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Free Trade Agreement between China and Iceland help to boost investment.

Iceland is an advanced economy, located strategically between Europe and North America, part of the common European Market, enjoying a free trade agreement with Canada and most favoured nation status in the US market. Bearing this in mind the new extensive free trade agreement with China offers investors multiple opportunities.

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Greenland’s becoming a Hot Opportunity

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With more and more opportunities available, the resource-rich Arctic territory of Greenland is once again attracting attention among the international investment community. It’s almost 50 years since the United States tried to buy Greenland for €100 million – an offer the Danish purportedly ignored – but Greenland is once again in the sights of major international players. And when you consider all it has to offer, this is not surprising.

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Greenland’s Mineral Opportunities

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For many years, there has been broad political agreement in Greenland that efforts should be made to develop the country’s mineral sector into a principal industry contributing positively to economic development and to the creation of new jobs. This goal is an essential element of the plan for long-term economic development, a plan that includes the development of business sectors as an alternative to the fisheries sector.

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