Opportunities in Cold Environments
- Valuable minerals are found in many cold environments, such as nickel, gold, iron ore and diamonds in northern Canada and coal, tin and uranium in Russia
- The development and exploitation of these resources puts cold environments at risk while providing benefits, such as
- Developing large areas of underpopulated and remote areas
- Providing employment
- Generating income from exports
- Opportunities include:
- Mineral extraction
- There are valuable reserves of minerals and rare earth elements such as gold, silver, neodymium, terbium, etc.
- Russia has large uranium and phosphate deposits and the Yukon, Alaska, is renowned for its gold
- Energy
- Gas and oil are abundant
- The US government is extracting oil from the oilfields near Prudhoe Bay, Alaska
- Fishing
- The cold coastal waters have good fish stocks and attract commercial fishing vessels
- The deep, cold water is ideal for unusual fish species, such as the Patagonian Toothfish, that command a high price in markets around the globe
- The cold coastal waters have good fish stocks and attract commercial fishing vessels
- Tourism
- Wilderness and adventure tourism to extreme cold environments is a growing industry for countries and local communities
- Tourism to the world’s northernmost urban community: Longyearbyen, Svalbard, Norway, or taking part in the Yukon Quest dog sled race, which is worth $4 billion a year
- Mineral extraction
- The benefits can be considered as:
- Local, where communities can benefit from income and job opportunities
- National, where a country benefits from extra taxes paid by companies and employees
- Global, where other countries can benefit from imports of resources
- Social improvements such as better insulation in homes and education
- Economic growth from the development of roads and hotels
- Political, where a country holds power over resource supplies, etc.
- Environmental benefits are limited, but development can raise environmental awareness