Energy: The lure of Arctic riches

The polar research and supply vessel 'Polarstern' cutting through the Arctic ice (photo: dpa)
The polar research and supply vessel 'Polarstern' cutting through the Arctic ice (photo: dpa)

Global warming has uncovered a wealth of minerals and opened up new sea routes in the Arctic. Six countries are hoping to stake their claims to the territory as GIS experts Professor Colleen Graffy and Dr Sergei Guriev explain.

SIX countries are vying for a ‘seabed grab’ to capture the untapped and hidden wealth of the Arctic, writes Professor Graffy.

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The previously inaccessible Arctic has moved into focus because the shrinking Arctic ice cap may open alternative and shorter shipping routes during the summer months and allow access to natural resources including oil, gas, a wealth of minerals, fishing and fresh water.

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