Swiss lender UBS (UBSG.S) said it has tightened its financing criteria for those involved in coal-fired power generation and mining, Arctic oil and tar sands, and would lay out a more detailed ...
B y Simon Jessop. LONDON, April 22 (Reuters) - Swiss lender UBS UBSG.S said it has tightened its financing criteria for those involved in coal-fired power generation and mining, Arctic oil …
More broadly, coal mining in the Arctic has been criticized for the paradoxical inconsistencies between the heavy greenhouse gas-emitting industry in a place on Earth where climate changes are being felt more than ever. Rasmus Bertelsen, a political scientist at The Arctic University of Norway, believes coal mining …
Arctic Russian seafaring traders known as Pomors referred to Svalbard as "Grumant," a corruption of Greenland, the mistaken British name for the main island. In the early 1900s, as whaling collapsed and coal became the black gold of the north, mining …
"Today's coal and Arctic policy from Morgan Stanley means that in just the last five months, five of the big six U.S. banks have ruled out Arctic oil and/or gas extraction projects — and four have tightened the screws on coal, ruling out coal plants and mines worldwide and committing to phase out financing for many coal mining companies.
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Nov 29, 2016 - Explore Arctic Iron's board "Coal Mining", followed by 267 people on Pinterest. See more ideas about coal mining, heavy equipment, mining equipment.
Arctic Mining, Resources and Activity. Mining has a longer history than hydrocarbon production across the Arctic. In the late 19th and early 20th centuries the quality of Arctic coal deposits (the principal fuel of shipping) led to investment and interest in the Svalbard archipelago, culminating in …
The coal mining industry on Svalbard developed during the early 20th century, but the use of the coal seams can be traced further back in time. On the west side of the main island Spitsbergen, the coal seams are exposed in the mountain sides on several locations, especially around the large fiord called Isfjorden in the center of the island.
Arctic Coal Company: This U.S.-owned company founded in 1906 became the first commercially successful mining operation in Svalbard. It was sold to Norwegian owners in 1916, who renamed it the Store Norske Spitsbergen Coal …
The federal government ultimately decided to remove a piece of land from the great Arctic Natural Park in order to facilitate for the construction of the Chaika coal …
These are the abandoned ghost towns towns that surround the coal-mining center of Vorkuta in Russia's Arctic north, swathed in snow and ice following recent brutally cold temperatures.
Coal mining on Svalbard was the only profitable resource extraction for decades. Longyearbyen was founded as a mining town in 1904 by James Munroe Longyear. In the course of time, the then Soviet Union also settled in Barentsburg and Pyramiden and mined coal. But due to the falling prices and the huge effort most of the mines were closed.
The Uarctic Thematic Network "Arctic Extractive Industries" thank the North Eastern Federal University, ... with mainly two companies working there in coal mining: Yakutugol, owned by its parent company Mechel Mining, running the main open pit in town, and recently started a giant new coal …
Arctic Gold Mining LLC is located in Nome, AK, United States and is part of the Metal Ore Mining Industry. Arctic Gold Mining LLC has 5 total employees across all of its locations and generates …
Environmental groups claim Norway's coal mining in times of climate changes is a paradox and want to see an end to such mining. Burning of coal is a major source for greenhouse gas. Coal mining is, however, considered important in order to maintain Norway's settlement policy on the Arctic archipelago. Mining profits are low.
Insight: Arctic Has Great Riches, But Greater Challenges. By David Ljunggren. PlanetArk. 2 September 2011. At the rim of the Arctic Circle in Canada, gold mining firm Agnico-Eagle is learning how tough …
Large-scale coal mining established communities in Svalbard during the 1920s, and it remains the main industry to this day. ... The Arctic is constantly moving and shifting, melting, reforming ...
The closure won't spell the end of all mining in this snow-drenched place north of the Arctic Circle, as a Russian company continues to extract coal there, keeping a strategic presence in the Arctic. "The purpose of Mine 7 is to supply coal to the power plant in Longyearbyen.
Mining in the Arctic: The Beginnings of an Industry. The Arctic remains a relatively untouched slice of planet Earth, but northern jurisdictions are eager for miners to explore. The Arctic is a ...
Russia is boosting trade with China, India and other growing Asian markets hungry for raw materials. Coal is to contribute to meeting that 80m-tonne target for Arctic …
The equipment used for coal mining—the town's raison d'être—sat where workers had left it, ready to rev back into action at the push of a button. ... the Arctic islands were used on and ...
Svalbard is an Arctic archipelago, situated north of Norway. On Svalbard, local sources of mercury can be attributed to the coal mining industry (both active and historical), the use of coal in two power …
When Coal Leaves Center Stage in Longyearbyen. In Longyearbyen, Svalbard, a choir united by coal takes to the stage in an abandoned building – but the future for local coal mining looks uncertain. This is the first installment of "Meet the North," a series that ventures into the lives of some of the 4 million people who call the Arctic …
In 1998, the mining company closed down the town for a few reasons, according to Visit Svalbard. The price of coal was falling, removing coal from the mountain was costly and difficult, and two years prior, an airplane crash killed 141 residents, devastating the community.
* Coal-fired power lending threshold cut * Introduces new threshold for thermal coal * Cuts threshold for Arctic oil, oil sands. LONDON, April 22 (Reuters) - Swiss lender UBS said it has tightened its financing criteria for those involved in coal-fired power generation and mining, Arctic …
Arctic Coal Company was a coal mining company that operated mines at Longyearbyen (then Longyear City) in Svalbard, Norway, between 1906 and 1916.. The American industrialist John Munro Longyear visited Spitsbergen as a tourist in 1901, where he met with an expedition prospecting for coal. He returned to Spitsbergen 1903, where he met Henrik B. Næss in Adventfjorden, who gave him samples …
PICTURED: The mining town of Svea in Spitzbergen, Svalbard.PC Lars Gustavsen.CC 4.0. Norway, having ceased mining operations of coal in the Arctic in 2017, is dismantling their last mine piece by piece and turning the whole area into a national park twice the size of Grand Teton in Wyoming.
With only a population of 2,753, 423 of those being either Russian or Ukrainian, Svalbard is what is referred to as Norway's Arctic archipelago of islands. According to the Svalbard Act of 1925, Svalbard is established as both a free economic zone, and a demilitarized zone. The economy relies mainly on the coal production of two mining companies.
Conclusion: lessons to learn considering the sustainability of mining in the Arctic region. Mining is a significant but controversial industry in the Arctic. It supports the local and regional …