"The Greenland subsoil contains a variety of valuable minerals, rare earth metals, precious metals, precious stones, coal, graphite and uranium. Greenland has been a mining nation since the late 1700’s, where coal was excavated in Qaarsut on the Nuussauq Peninsula.
In addition to coal, a mining has included gold, silver, copper, lead, zinc, graphite, olivine, cryolite and marble.
A number of mines have closed in recent years, including the Seqi olivine mine near Maniitsoq, which was shut down in 2011, and the Nalunaq gold mine near Nanortalik, which was decommissioned in 2013.
However, new mining projects have been launched, including a ruby mine near Qeqertarsuatsiaat (Fiskenæsset). An application is expected to be filed for a mine to exploit rare earth elements and uranium at Kuannersuit (Kvanefjeld).
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Assessments suggest there is a huge potential for oil exploitation in the waters off Greenland. To gain a better insight into the geological conditions, international oil companies employ seismic surveys and exploratory drilling within their assigned offshore license areas. Similar investigations are also underway on land (onshore), for example, on the Nuussuaq Peninsula, where the discovery of oil seeps in the nineties sparked an interest for further studies.
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In October 2013, the Parliament of Greenland, Inatsisartut, officially changed its mining policy and opened up for extraction of uranium and other radioactive minerals in Greenland. This means that mining companies can now submit applications to exploit radioactive minerals in Greenland’s subsoil.
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