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Newspaper: Financing of massive mine in Greenland secured

The financing for a massive mine in Greenland looks finalized after Chinese backing of the project has been secured, writes Danish newspaper Berlingske Business.

Photo: Torben Stroyer

A possible mining adventure in Greenland is looking more likely, as China has apparently given a final green light to provide crucial funding, writes Berlingske Business.

According to the newspaper, the deciding factor was a ministerial nod to a giant iron mine project with a facility investment of USD 2.2 billion in western Greenland. That means it might just be a matter of time before the financing of the Isua mine has been settled definitively, with loans from Chinese state banks. The project is headed by stock listed company London Mining.

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