Like the rest of the
Canadian Shield, Greenland is blessed with greenstone belts that are always associated with gold. The east coast of Greenland lies just to the west of the IapetusSuture Zone making it similar to western and Connecticut Eastern New York. , Northern Ireland and the Scotland Scandinavian Peninsula split off the eastern coast of Greenland during the period when the Atlantic Ocean was opening making a strip along the east coast similar to the eastern . Some of the rocks in United States are identical to the Scotland Catskill Mountains in composed of what is called the Old Red Sandstone in New York . Scotland
Although much of
Greenland hasn’t been explored as it is covered with up to two miles of ice enough has been explored so there are some active gold mines found on the Island. The island could become the next mining frontier an idea that drew over 150 people to a meeting about the potential for mineral exploration in Greenland in Toronto. Greenland itself is one indication about how the soaring prices for metals attracts miners to the out-of-the-way places that under usual conditions are normally overlooked. Greenland is an extension of the Canadian Shield that contains many potential mineral deposits. Just one deposit of cryolite sparked the whole aluminum industry during the late 19th Century.
Gold isn’t the only precious commodity found on
Greenland; True North Gems has also found extensive deposits of rubies in southwestern Greenland. There are also many other things then gold that are being mined on the island right now. Exploration is ongoing for other commodities. One of these is diamonds, although none have been discovered yet geologically there is no reason why they haven’t, and plenty of reasons why they should.
Greenland is off the beaten path it isn’t so far away that it can’t be in what is called in international trade a part of the Hudson – Rhine Axis of Trade.