This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Greenland Opens Up Rare Earth Mining Opportunities

Greenland Opens Up Rare Earth Mining OpportunitiesGreenland took a crucial step forward last week in encouraging mining investment in the remote Arctic landmass, by removing a ban on uranium mining.a

Mining companies of all stripes and commodities have long been interested in what lies beneath the mineral-rich island, which is a semi-autonomous territory of Denmark.

As Rare Earth Investing News reported last year, Greenland hosts enough rare earth elements (REEs) to supply a quarter of global demand over the next 50 years.aThe territory has also shown great potential as a host for a number of minerals, including gold, base metals andadiamonds. Its geology is similar to that of Canada and Northern Europe and includes Archaean craton (a layer of earth that is viewed as having high potential for REEs). Yet despite its geological appeal, Greenland remains relatively unexplored.

One of the issues impeding exploration, particularly for rare earths, has been aaban on the mining of uranium, which is often mixed with the minerals containing REEs. However last week, the 31-member Greenland parliament voted in favor ofaending the prohibition on mining radioactive materials such as uranium and thorium, after a legislative amendment was made in September, RT reported.aHowever, the country plans to maintain oversight to ensure uranium exports are in line with international norms.

Removing the ban is likely to interest foreign investors such as China, the largest consumer of metals, in Greenland's largely untapped mineral resources.

The territory raised a few eyebrows early this year when its premier, Kuupik Kleist, said it willanot favor the European Union over China, or any other investor, that wants access to its prized rare earth deposits — despite its close ties to Denmark and the EU.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs