Another Iron ore project; put on the back burner.. London Mining iron ore project just north of Nuuk Greenland
will be put on hold due to the company's unability to raise the
need funds. They were to start the process of building the
mine this year 2013. One of the drawbacks of this project is
the 105 km pipeline that was to carry the slurry concntrate to
the coast. The one thing in their favor is that of year round ship-
ping due to ice free waters in that part of Greenland. So far no
interest from the Chinese; wonder how long before they come
sniffing around. If you check London Mining web site; you'll find
it needs to be updated.... since there will definately not be any
construction this summer due to a lack of funding....