NunaMinerals Rises on New Law to Support Foreign Workers, Mining Industry in Greenland

Bloomberg reported that NunaMinerals’ stock shot up on news that Greenland has modified their labour laws to attract foreign labour, which will be supportive of the mining industry there.

As quoted in the market report:

The legislation, which was passed late Dec. 7, aims to make it easier to complete large-scale projects by reducing labor costs based on international wage levels, Greenland’s government said in a statement. NunaMinerals, which is based in the island’s capital city, Nuuk, is developing more than a dozen mining prospects on the island, including deposits containing gold, diamonds, rare earth minerals and copper

To view the whole Bloomberg report, click here.