Firm to take over Greenland mine

General Nice deal to be first by an Asian company in the Arctic region

General Nice Group, a Chinese private trading company, is taking over a large iron ore mine in Greenland, in what will be the first project of its kind by an Asian country in the Arctic region.

A senior adviser to General Nice, who declined to be named, told China Daily on Monday that the project is at the very initial stage and nothing has been nailed yet, including the deal size, which was reported to be around $2 billion.