News Summary: Greenland opens way for mining boomOctober 25, 2013 @ 9:53 am
(AP) - DIGGING IT: Greenland's parliament has agreed to remove a 25-year-old ban on uranium mining, paving the way for an industrial boom that the Arctic island hopes will help it gain independence from former colonial master Denmark.
RARE FIND: Greenland, a semi-autonomous part of Denmark, wants to step up its mining of rare earths, valuable elements used in the production of smartphones, weapons systems, and other modern technologies. But uranium is often found mixed into rare earths, so the ban was blocking key mining activity.
GOOD AS GOLD: Experts estimate that a mine in southern Greenland could contain the largest rare-earth metals deposit outside China, which currently accounts for more than 90 percent of global production. An Australian company has estimated it could extract up to 40,000 tons of rare earth metals per year.
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