Isua Iron Mine

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Isua
Location
Isua is located in Greenland
Isua
Isua
CountryGreenland
Coordinates65°30′N 50°20′W / 65.500°N 50.333°W / 65.500; -50.333Coordinates: 65°30′N 50°20′W / 65.500°N 50.333°W / 65.500; -50.333
Owner
Company
Websitewww.generalnice.com.hk

The Isua Iron Mine is a proposed mine in Greenland.

Concept[]

The plan is to ship iron ore from open-pit mines in Greenland to manufacturers in Europe and Asia.[1][2] Like the Baffinland Iron Mine on Baffin Island, the costs of placing a mine in a remote area will be compensated by the high quality of the ore. The ore will be 70 percent iron, so it will require minimal processing before being shipped.

The mine site is approximately 150 kilometres northeast of Nuuk, just south of the Arctic Circle.[1] The mine would be at the same latitude as Maniitsoq, a small port on Greenland's west coast, about 100 kilometres away. The mine would be at the edge of Greenland's ice cap.

Where the similar Baffinland Iron Mine would ship ore from the mine site to its port on a 150 km railway the Isua Iron Mine's plans were to transport the mine as a slurry, through a 105 km (65 mi) long slurry-pipeline.[3] The port would be built in .[1] The bay is ice-free year-round.

History and time plan[]

In 2011, according to , the firm planning to develop the site, the mine would be constructed and in operation by 2015.[1] It was projected to ship 15 million tonnes of ore per year. However, Jane George, of Nunatsiaq, reported on April 23, 2013, due to a drop in the price of iron ore, development of the mine had stalled.[2] In October 2013 London Mining and the Greenland Government signed an agreement giving an exploitation license for the mine.[4] Construction had been projected to cost at least $2.35 billion.

In October 2014, the company London Mining went bankrupt, due to low ore prices and the fact that its largest mine in Sierra Leone was affected by the Ebola outbreak.[5] In January 2015, the Chinese company (Chinese: 俊安集团) bought the Isua mining project.[6][7] As of 2016, development of the mine was on hold due to iron prices being too low to make the project economical.[8]

Jane George, of Nunatsiaq, compared the relative open-ness and transparency with which Baffinland prepared for its environmental review with the criticism London Mining received for its opacity.[1] She pointed out that London Mining had been criticized for failing to effectively publicize its public information meetings, and it had been criticized for a failure to prepare briefing materials in the Danish language and in Greenlandic.[9]

References[]

  1. ^ a b c d e Jane George (2011-09-19). "Huge Isua iron mine under development in western Greenland: "No known environmental issues" to deal with, says London Mining". Nunatsiaq. Retrieved 2013-04-24.
  2. ^ a b Jane George (2013-04-23). "Prospects fade for huge Greenland iron mine: Iron prices falling, construction plans await financing". Nunatsiaq. Retrieved 2013-04-24.
  3. ^ "Isua, Greenland". . Retrieved 2013-04-24.
  4. ^ Signing with London Mining Archived 2013-12-16 at the Wayback Machine
  5. ^ Ebola-hit London Mining collapses into administration
  6. ^ "Chinese group General Nice takes over Greenland mine". Financial Times.
  7. ^ "New strong force behind London Mining Greenland". Naalakkersuisut. 2015-01-08. Retrieved 2021-09-26.
  8. ^ Fouche, Gwladys (2016-01-26). "Chinese firm unlikely to develop $2 billion Greenland iron ore mine soon: minister". Reuters. Retrieved 2021-09-25.
  9. ^ "Ensidigt borgermøde om Isukasia" [One-sided public meeting on Isukasia] (in Danish). Sermitsiaq. 2011-08-30. Retrieved 2013-04-24.
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