The development of Kuannersuit field, one of the largest uranium and REE fields located in Greenland may be suspended due to the victory of the Socialist Party People's Community (Inuit Ataqatigiit) on the recent elections to the regional Parliament.
At present the party is known in Greenland and Denmark as one of the major local forces, which opposes the development of Greenland’s uranium and REE reserves. Such opposition is mainly explained by many environmental risks, including a radiation threat, associated with the development of the field.
So far, the People's Community has already called for a moratorium on uranium mining, which will effectively halt work at Kuannersuit. The project is run by Australian Greenland Minerals company, which is partly owned by Chinese mining holding Shenghe Resources.
In early April, Google, Volvo, Microsoft and BMW were the first major international corporations to sign an agreement banning deep-sea mining of metals and minerals. The companies pledged not to finance these projects and not to buy the resources obtained by the deep-sea method.
By: Eugen Gerden