Read the sentence given below to find out if it contains any errors. The error, if any, will be in one part of the sentence. If the sentence is error-free, select No error or option 5. Ignore errors of punctuation if any.

As the ice melts at a fast pace in the (A)/ Arctic, the mining and shipping (B)/ industries have carved it an (C)/ opportunity out of the crisis. (D)/ No error (E)