Greenland revokes iron ore mining license from Chinese company

Greenland has withdrawn the license for an iron ore deposit near the capital Nuuk from a Chinese mining company. The reason was years of inactivity at the Isua site, the government announced on Monday. The Hong Kong-based company, called General Nice, also failed to make the agreed guarantee payments, it said. „We cannot accept that a license-holder repeatedly fails to meet agreed deadlines,“ Greenland’s Resources Minister Naaja Nathanielsen said. The government announced it would offer the license to other interested companies after General Nice officially returned it, according to a Reuters report.