Managing Greenland's mineral revenues. A trust fund approach

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Following the closure of the Black Angel lead-zinc mine in Greenland and as a result of problems in the fishing industry, the possibility of developing the assumed mineral wealth of the country has gained renewed interest. This interest has been expressed through the efforts made to create an attractive regulatory framework for exploration and mining investment. A new mining act for Greenland and new tax legislation applicable only to mineral projects was enacted in spring 1991. The next step is exploration, primarily by foreign investors, followed by development and mining of new discoveries. Assuming that discoveries of mineable deposits are made and developed, mineral revenues will accrue to Greenland. The paper examines options for managing mineral revenues in light of general economic conditions in Greenland and of experiences in Alaska and Canada. © 1992.

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