Iceland volcano live: Eruption finally begins near Grindavik after weeks of earthquakes

It is estimated that the Icelandic treasury’s expenses will increase by over £30million this year due to the earthquakes on the Reykjanes Peninsula.

£11.5million will be used to support workers in Grindavík.

The Icelandic government said about £15million will be used to build a defence wall at the power plant in Svartsengi, but this project will be financed with a special fee for house owners for the next three years.

Iceland’s Met Office has revealed that inflow into the magma tunnel that formed on November 10 causing earthquakes to rock Grindavik has “probably stopped”.

The latest data suggests that the probability of an eruption over the magma tunnel in this round of events on the Reykjanes Peninsula has therefore decreased significantly.

But they add: “However, magma accumulation continues under Svartsengi.

“This upheaval at Svartsengi, which began in October, is not over, but it can be said that a new chapter is beginning with an increased probability of a new magma run.

“As mentioned before, the magma tunnel that lies under Grindavík was formed when magma escaped from the magma intrusion at Svartsengi. That sequence of events is likely to repeat itself.”

Þorvaldur Þórðarson, professor of volcanology at the University of Iceland, says if the land mass on the Reykjanes Peninsula continues at the same rate as now an eruption could happen.

“It could then lead to an eruption or magma intrusion at an even lower depth, and there would be some earthquakes with that, but I think it’s unlikely that it will be directly under Grindavík,” says Þorvaldur.

But he he doubts that the sequence of events on the eve of November 10 will repeat itself.

Iceland is highly susceptible to natural disasters because it lies on the Mid-Atlantic Ridge – a divergent plate boundary where the North American Plate and the Eurasian Plate are moving away from each other, leading to volcanic eruptions and earthquakes.

Three eruptions have taken place on the peninsula of Reykjanes near the Fagradalsfjall volcano in the last three years: in March 2021, August 2022 and July 2023.

However, previous eruptions did not cause damage, having occurred in remote valleys.

As Iceland waits in trepidation for the looming volcanic eruption, we take a look at some of the biggest volcanic eruptions in the last decade:

Residents from a small Icelandic town under threat from a volcanic eruption have described their ‘apocalyptic’ existence as they fear for their future.

Last Friday, thousands of Grindavik residents were ordered to leave as the town was rocked by hundreds of earthquakes. The small fishing town is 34 miles from Reykjavík and is home to the famous tourist attraction the Blue Lagoon.

Iceland’s town of Grindavik is not yet clear of danger as the Icelandic Met Office says there is a “continued likelihood of an eruption”.

The service added that the “unrest phase is not over” as a volcano specialist for the Icelandic Met Office explained that the “seismic activity has been rather similar” in recent days.

The specialist said on 6 December: “Since midnight today about 50 earthquakes have been detected, most of them located near the central part of the dike intrusion. Yesterday approx. 220 earthquakes were detected near the dike intrusion.”

Charities have taken part in a number of rescue efforts in a bid to save animals in the town with rescuers returning to look for animals.

Cats, dogs, hamsters and even hens were at the centre of rescue efforts after many were left behind following evacuation orders which gave residents minutes to leave. Over 4,000 people were evacuated.

Charities and other organisations stepped in to save the day as many happy reunions took place amid the bittersweet circumstances.

Hannah Everson, manager of Kattholt Animal Shelter, said she went back to the town to search for animals. She was able to collect a total of 49 animals.

From the spectacular Northern Lights to the stunning waters of Blue Lagoon, Iceland is certainly not short of tourist attractions, writes Barney Davis.

As fears of an imminent volcanic eruption subside, the town is looking at how best to recover after streets were torn up and residents fled for safety.

The crater left behind in the wake of the chaos spreads from a Lutheran church and nursery all the way through a children’s playground and underneath the fabled Grindavík basketball team’s plush new stadium with the season about to start.

But the volunteer rescue forces posted on guard duty in battering 32mph winds have to follow the strict instructions of Iceland’s tourist minister. There is a lot of high-speed arguing in Icelandic, and eventually we pass through.

The coach is carrying the world’s media for the first time since the initial 5.2-magnitude earthquake gripped the globe’s attention. But after days of stalemate, fears of Iceland’s economy tanking, and rumours spreading of the entire country disappearing beneath the Atlantic, the government has reluctantly allowed the press to visit the site.

Read my colleague Barney Davis’s report from Grindavik: