Uncovered assets

Mining has been virtually impossible across much of Greenland, the world’s largest island, because most of the country is covered by a 150-metre-thick ice sheet. Melting ice and new techniques could signal a potential rush for gold, iron ore and rare earth minerals in the coming decades, an idea welcomed by some who predict major economic benefits but opposed by others who fear environmental consequences.

Angel Mining’s Nalunaq gold mine near Greenland’s southern tip, which produced its first bar in May 2011 and has a target annual production rate of about 24,000 ounces, is the country’s only productive mine currently operating. Five others are currently in the process of establishing new mines, and more than 100 other sites are being explored.