Difficult Financial Situation for LNS-Owned Ruby Mine in Greenland The board of Greenland Ruby has applied for reconstruction of the company in an attempt to avoid bankruptcy. CEO Arnt Eirik Rørnes says increased interest rates, inflation, and high cost of living has made the market significantly more demanding in the past years.
Greenland Ruby Secures 18 Million Dollars in Financing Greenland Ruby and Nebari Natural Resources Credit Fund have come to an agreement for an $18 million working capital facility. The first round of funding is expected before the end of May.
