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The Minister of Business and Mineral Resources du Greenland, Naaja Nathanielsen, speaks during an interview with AFP in his office in Nuuk, Greenland, March 6, 2025.
Odd Andersen | AFP | Getty images
Greenland has little interest in exploiting its massive resource potential to become a higher mining country.
The largest island in the world has been plunged into the Geopolitical projectors In recent months, US President Donald Trump has repeatedly said that Washington should control Autonomous Danish territory – even refusing to exclude the use of military or economic force.
The pursuit of Greenland Trump comes as mining frames describe The race for extractable resources largely unexploited from the Arctic island as a “enormous opportunity”. However, The severe climate of Greenland, the distant landscape and the lack of infrastructure has all been cited as obstacles to the strategic potential of the island.
Naaja Nathanielsen, Minister of Business Resources and Minerals of Greenland, told CNBC that the exploitation of some of the very popular minerals in the territory was “absolutely possible and viable”, noting that several mining projects are already underway.
“We have current projects which, I think, are very promising: graphite, gold, copper, nickel molybdenum and so on. Rare land,” Nathanielsen told CNBC “Squawk Box Europe” Friday.
“But for Greenland, we are not necessarily interested in becoming a very large mining country. We really want 5 or 10 active mines at any time,” said Nathanielsen.
“We are a very small population, therefore, for us, we do not need that the whole country will be covered with mines. We are satisfied to manage a few and I think it is possible,” she added.
Greenland has long presented itself as a Western alternative to China Near the monopoly On rare earth elements.
Indeed, a 2023 investigation By the Geological Survey of Denmark and Greenland (GEUS) found that 25 of the 34 minerals recognized as raw materials critical by the European Commission were found in Greenland. These minerals include graphite, molybdenum and titanium, which should all play a key role in the pivot of more durable energy sources.
MINUMOR OPERATIONS
Earlier this week, the Critical Metals Metals Corporation development company announcement He had received a letter of interest from the United States Export-Import-Import Bank for a loan worth $ 120 million to finance the company’s Tanbrez mine in southern Greenland.
In particular, the financing package marked the first investment abroad of the Trump administration in a mining project.
In this aerial view, melt the icebergs, the Icefjord Icefjord on July 16, 2024 near Ilulissat, Greenland.
Sean Gallup | Getty Images News | Getty images
Greenland authorities approved A 30-year-old extraction permit to a Danish-French mining group to exploit Anorthosite, a rock rich in aluminum, on a site in western Greenland.
In addition, Eldur Olafsson, CEO of the mining company focused on Greenland, Amaroq, described Greenland as “an incredible country” to operate.
“Geology is such that Greenland has traveled in the world through a geological period and has left everywhere – which means that it has an exposure to most mineral resources,” said Olafsson to CNBC “Europe Early Edition“THURSDAY.
“It has a fantastic jurisdiction in relation to regulations. It is based on the Nordic principles and the law,” he added.
A general view of a residential area of Nuuk, Greenland, on March 10, 2025, on the eve of a parliamentary election in Greenland, the Danish territory. Two days of storm and soft weather torn posts of posts and melted snow in the capital of Greenland.
Odd Andersen | AFP | Getty images
When asked how the prospect of the American purchase of Greenland could have an impact on the operations and perspectives of the company, Olafsson said that the fate of Greenland is that the Greenlanders choose.
“In the end, I think Greenland will likely become an independent state, supported by the Nordic countries and supported by the United States, just like Iceland,” said Olafsson.
Learn from the past
Greenland Nathanielsen said that the territory had environmental, social and governance “very high” standards (ESG), partly because of its previous problems with mining pollution.
“I think that the inhabitants of Greenland really support the mining industry, which is quite rare when you look at other jurisdictions. But they do it because they trust us, having a high environmental standard and taking care of local communities,” said Nathanielsen.
“And if we start to fall back on this, we will also lose the support of the people of this industry. For us, it is really important. So, I think we have learned from the past,” she added.
