There are several issues to be considered. Greenland has a small population. It also has had little job prospects and extreme winter weather which restricts working outside for a good portion of the year. Hence it will have the younger generations leaving for "greener pastures". Small scale mining does address these problems. Smaller scale of mining gives locals employment obviating the need for them to move away for employment and providing jobs that expats can come back to. This can work being that only a small number of international staff are required. This can fit into the community without many issues.
Larger scale mining either by size or the quantity of small scale mines, dries up the local labour force and this shortfall is taken up by either migrant workers and or fly in fly out workers. Whether not meaning to or by not being concerned, this upsets the local economy. The main two issues are wage parity and social integration. FIFO workers want the big bucks with which the company must pay similar to the local workers. If there is too much difference the local economy will be destroyed. Similarly with a mass input of migrants from different cultures can cause unrest in the community.
Do it right and everyone wins. Do it wrong and chaos reigns.
We were facing this same issue in the Horn of Africa where most of the population were battling to earn $US2 per day. We had to put a limit of 5% expats and limited them to teaching roles.
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There are several issues to be considered. Greenland has a small...
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Last
5.7¢ |
Change
-0.004(6.56%) |
Mkt cap ! $82.37M |
Open | High | Low | Value | Volume |
5.8¢ | 5.9¢ | 5.6¢ | $97.44K | 1.680M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 183899 | 5.7¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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6.0¢ | 25000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 183899 | 0.057 |
6 | 372244 | 0.056 |
4 | 330555 | 0.054 |
2 | 530000 | 0.053 |
1 | 30000 | 0.052 |
Price($) | Vol. | No. |
---|---|---|
0.060 | 25000 | 1 |
0.061 | 50000 | 1 |
0.062 | 11650 | 1 |
0.064 | 194684 | 2 |
0.065 | 439553 | 5 |
Last trade - 15.59pm 23/06/2025 (20 minute delay) ? |
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