Just to let you know a quick packages search shows there are repositories storing this package.
You've got the tarball so now you want to unpack it in a directory you'd like it to be stored in forever.
Quote:
tar -jxf icecat*.tar.bz2 /directory/inwhich/to/store
mv icecat* icecat # renames the folder to something a little easier
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Once that's sorted you'll need to make a shortcut to the
run-icecat.sh file: click System > Preferences > Preferred Applications. Change the Web browser option to point at the icecat shell scrip
You're not compiling from source so build-essentials isn't necessary, nor is ./configure. In fact, there's not even an installer script in there it would seem.