Greenland’s hidden wealth
Exploration companies are flocking to Greenland to take advantage of its untapped potential wealth. One company that has shown some success in its exploration activities is North American Nickel (NAN), which has been drilling for nickel sulphide and copper deposits at its Maniitsoq Project, in an area that is notoriously challenging due to its rugged terrain.
These promising findings have helped it secure financing for follow-up drilling. In addition, the local authorities have increased NAN’s total exploration area to 5,106 square kilometres.
Greenland’s ice-free coastal areas contain mineral belts that are believed to be highly prospective for gold, copper, lead, zinc, iron ore and even precious gemstones such as diamonds and rubies. Keen to expand Greenland’s resource sector, the local government has increased the number of active exploration licences sixfold since 2002.