05 Jul '11, 9am

Britain's richest man to build giant Arctic iron ore mine ~ ~ #mining #arctic #wildlife

Britain's richest man to build giant Arctic iron ore mine ~ ~ #mining #arctic #wildlife

is planning a giant new opencast mine 300 miles inside the Arctic Circle in a bid to extract a potential $23bn (£14bn) worth of iron ore. The "mega-mine" – which includes a 150km railway line and two new ports – is believed to be the largest mineral extraction project in the Arctic and highlights the huge commercial potential of the far north as global warming makes industrial development in the region easier. The billionaire steel magnate Lakshmi Mittal , who is behind the project, wants to exploit a commodity whose value has doubled due to soaring demand from China and India. But the wildlife group WWF, describes the planned mine as a "game changer" and a test case that could affect all future industrialisation of the far north. 'It is certainly ... of a scale that would be massive anywhere in the world,' said Martin von Mirbach, a director of the Arctic programme at WWF...

Full article: http://www.theecologist.org/News/news_analysis/962831/bri...

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