| Abstract |
This paper addresses mining and extraction in the Arctic with examples fetched from the Identified Geographic Areas in the Euro-Asian Arctic region. The overall Arctic region is undergoing significant changes in land and sea use, fishing, forestry, transportation, freshwater diversion, urbanisation, and more. The Arctic, covering 6 percent of the earth's surface, is a nursery of the planet food chains and migratory wildlife important to Earth and ecosystem survival. It houses 25 percent of the world's Large Marine Ecosystems, substantial amounts of energy resources including oil, gas, and critically required materials. The region, with a mere 0.1 percent of the global human population, has generated considerable material wealth for the eight Arctic states surrounding it and the global north. The region is facing unprecedented changes and opportunities. The Arctic has warmed up four times faster than the rest of the planet and an intensive exploitation of its mineral wealth, fish stocks and strategic military location has resulted in 3,000 hazardous hotspots areas to remedy. Key challenges and opportunities for sustainability of the Arctic resources relate to the mining and extractive sector and associated infrastructure. The issues include on-shore and off-shore exploitation such as intentions to mine sea- and riverbeds in sensitive eco-systems. Action-wise, in the regulatory and incentives spheres, the European Union and the Nordics countries are moving forward to embrace the world leading initiative on a Green Deal. Similarly, Canada, Russia and the US have amended or are adjusting their regulatory framework to tackle the rapidly changing arena. For the wellbeing of Arctic, organisations such as the Arctic Council, its permanent participants of Indigenous peoples, and observers, including countries like China, Japan, India, Germany, the Netherlands, have engaged constructively and aspiring to continue doing so to access a fair share of the Arctic Wealth. |
