China’s Arctic Mining Adventure Left Out in the Cold

Greenland’s new industry and mining minister, Jens-Erik Kirkegaard, visited China for the first time in November, just seven months after taking office. He made the intentions of his visit clear at the China Mining Conference and Exhibition in Tianjin on November 4.

“There is big room for Greenland and China to jointly explore commercial opportunities,” Kirkegaard said. The minister also stated Greenland’s intentions to become a natural resources exporting power.

Chinese businessmen have been eyeing the resource-rich North American country. In the summer, a group of businessmen from more than 10 private companies visited Greenland to seek possible investment opportunities in mining, fisheries, tourism and other industries. Similar trips are planned for the next year.

As economic recovery in Europe and the United States has been sluggish, Greenland is eagerly looking for alternative investors, especially China.

However, the progress of cooperation between Greenland and Chinese businesses have been slow as challenges over distance, environmental concerns and local infrastructure have hindered Chinese investors.

Read the whole article at Caixin here.