Britain’s richest man to build giant Arctic iron ore mine

Posted by Washington Post: Juliet Eilperin on July 4th, 2011
Guardian: Great Sail Peak reflected in a snow melt pool on Baffin Island, Nunavut, in the Canadian Arctic. ArcelorMittal has bought Baffinland Iron Mines in order to exploit Mary river iron ore deposits. Britain's richest man 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......

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