CRITICAL MINERALSWill Trump Spark a Mineral 'Gold Rush' in Greenland?
The mineral wealth on the Arctic island of Greenland is in the global spotlight after U.S. President Donald Trump said he wants to take control of the territory from Denmark, prompting alarm from European allies.
The mineral wealth on the Arctic island of Greenland is in the global spotlight after U.S. President Donald Trump said he wants to take control of the territory from Denmark, prompting alarm from European allies.
Trump’s words were echoed in a January 12 interview on “Fox News Sunday” by Vice President JD Vance, who said, “There is a deal to be made in Greenland,” and that the island has “a lot of great natural resources.”
Until now, Greenland’s mining industry has struggled to turn a profit, but could that be about to change?
‘Full of Minerals’
Greenland currently has only one active commercial mine — White Mountain —located north of the capital, Nuuk, and gets its stark, monochrome color from anorthosite rock, which is rich in calcium deposits and other minerals.
The mine’s operator, Lumina Sustainable Materials, ships the rock from Greenland’s western coastline to Asia, Europe and North America, where it is used to make a variety of products such as fiberglass, paint, fillers, cement and polymers. Efforts are under way to exploit aluminum deposits within the anorthosite.
“Greenland is a country full of minerals. We have, literally, minerals available all over the place,” Bent Olsvig Jensen, Lumina’s managing director in Greenland, told VOA in an interview.
Dozens of other mining companies from around the world are conducting exploration and feasibility studies across Greenland, although White Mountain remains the only commercial operation currently trading.
China Competition
The minerals include plentiful rare earth elements such as lithium and scandium, which are critical for devices such as batteries. Global supply chains for those elements are currently dominated by China.
Trump has repeatedly said that U.S. control of Greenland is necessary for “international security.” His comments caused a political storm in Greenland and Denmark, but mining companies see an opportunity.
“His interest in Greenland can actually help the industry get access to further investment, which is needed for the industry to develop in Greenland,” Jensen said. “So, yes, I definitely welcome it. And I think it’s important that both from the industry side but also from the political side in Greenland that we position ourselves towards Trump and the U.S.”
‘Not for Sale’
Greenland’s government is largely autonomous, although Denmark is responsible for the island’s security.
Naaja Nathanielsen, Greenland’s minister for resources, emphasized the government’s long-held response to Trump’s interest: Open for business, but not for sale.