Photo: Associated Press
Lakshmi Mittal, the richest man in the UK, is planning to build a “mega mine” in the Arctic circle, reports The Guardian.The mine will be built 300 miles inside the Arctic Circle and hopes to extract a potential $23bn (£14bn) worth of iron ore.
Mittal, worth $28.4 billion, is looking to own the ore due to rising demand in India and China.
The project has been made possible due to the impact of global warming, The Guardian reports. Its size has led to concern amongst environmentalists.
“It is certainly … of a scale that would be massive anywhere in the world,” Martin von Mirbach, a director of the Arctic programme at WWF in Canada, told the British newspaper.
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