The need for natural resources is becoming more urgent than ever before as the amount of these resources in the Earth is being depleted quickly. Recently, in July, a large amount of ice melted in Greenland because of particularly warm temperatures and it is revealed that potentially a great deal of natural resources could be extracted from this island, which is the world’s largest.
The ice melting suggested that in the future it is going to be possible to extract natural resources from under the ice as they are going to become more easily accessible. One of the most powerful politicians in the European commission, Antonio Tajani, has stated that this is a potential goldrush for the people who live in Greenland, but they are also very aware of the potential environmental damage that could be caused by the extraction of natural resources in their country.
There is a large amount of wilderness in Greenland and people are concerned about the damage that extraction operations could do to the area. The government of the country have said that they are keen to take advantage of the natural resources of their country as the finance would be greatly welcome to alleviate some of the poverty there.
Currently, there is only one company operating in the country and they are looking for gold. However, there are five companies that are setting up operations which are going to be exploring for other valuable items such as iron or, gemstones and rare earth metals.
The country has strong ties with many members of the European Union although the island does have its own government. Currently exploration is taking place about whether the resources in the area could be effectively mined, something that has only recently become possible because of advancements in the ability for people to drill at the deep sea level.