China's General Nice acquires Greenland mining project

Chinese General Nice has acquired a large-scale mining project in Greenland that will require billion dollar investments to realize.

Photo: Torben Stroyer

The biggest planned mining project in Greenland - in the Arctic as a whole, in fact - has been acquired by a major Chinese player, namely Hong Kong-based General Nice, one of China's biggest iron importers, report several news media.

The project, names Isua, was owned by London Mining Greenland, which has now sold the mine along with the license to break iron ore 150 kilometers from the capital of Greenland, Nuuk. On December 21st Greenland's government, Naalakkersuisut, approved the transference of the company's shares to the Chinese company, says the government in a statement on its website.

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