14 January 2025

A plane allegedly carrying US businessman Donald Trump Jr. arrives in Nuuk, Greenland on January 7, 2025.

Emil Stash | AFP | Getty Images

US President-elect Donald Trump's Strive The Greenland acquisition could be motivated by critical minerals, with mining executives and researchers describing the island's vast resource potential as a “tremendous opportunity.”

Trump Giving for many years The process of taking control of the largest island in the world has begun in recent weeks.

Ahead of his inauguration on January 20, Trump said US ownership of the autonomous Danish territory was “an issue.”Absolute necessityFor purposes of “national security and freedom throughout the world.”

Trump has since doubled down on those comments, Refusal to exclude Using military or economic force to make Greenland part of the United States

Greenland's Prime Minister, Miot Egedy, told Trump that the Arctic island “Not for saleHe urged the international community to respect the region's aspirations for independence. Along with the Danish Prime Minister Mette FrederiksenEgede has also recently Named To hold talks with Trump to resolve the situation.

When asked about Trump's interest in making Greenland part of the United States, the president-elect's incoming national security adviser, Florida Republican Rep. Michael Waltz, was unequivocal.

“It's about critical minerals. It's about natural resources,” Waltz said. Fox News In an interview on January 9.

“It's about reintroducing America to the Western Hemisphere,” Waltz said. “You could call it the Monroe Doctrine 2.0, but this is all part of it.”America first“Agenda.”

Greenland will become more and more objective; It will become more and more front and center because of the climate change discussion, the critical minerals discussion and the geopolitical discussion.

Roderick McCleary

CEO of 80 Mile

Critical minerals refer to a subset of substances that are essential for body composition Energy transmission. These minerals, which tend to be at high risk of supply chain disruption, include metals such as copper, lithium, nickel, cobalt and rare earth elements.

Important minerals and rare earth elements are vital components of emerging green technologies, such as wind turbines Electric vehiclesEnergy storage technologies and national security applications.

China is Undisputed leader of the supply chain of critical minerals, accounting For about 60% of the world's production of rare earth minerals and materials. American officials had done so earlier to caution This constitutes a strategic challenge in light of the trend towards low-carbon energy sources.

In this aerial view, melting icebergs collect in the Ilulissat Ice Fjord on July 16, 2024 near Ilulissat, Greenland.

Sean Gallup | Getty Images News | Getty Images

2023, said Jacob Klöfé Kaeding, senior advisor at the Geological Survey of Denmark and Greenland (GEUS). reconnaissance Of Greenland's resource potential a total of 38 raw materials have been assessed on the island, the vast majority of which have relatively high or moderate potential.

These materials include the rare earth minerals graphite, niobium, platinum group metals, molybdenum, tantalum and titanium.

“In general, we can say that there is huge potential for bio-raw materials (in Greenland),” Kaeding told CNBC by phone.

He added, “Many of these materials are of great importance to the European Union economy, and of course, this is not limited to Europe only. Many of them are also on the US (critical raw materials) list.”

“Greenland is not for sale”

Aja Chemnitz, a Danish member of parliament for Greenland from the Inuit Atakatigit party, called Trump's comments about Greenland “disrespectful” and confirmed the prime minister's message by saying the region is not for sale.

“I'm not worried. I think some people in Greenland are quite worried, but I think it's important for us to say that Greenland is not for sale, has never been for sale (and) will never be for sale.” Chemnitz told CNBC's Silvia Amaro on Monday.

Greenlandic lawmakers will need to have “very clear and specific goals on how to cooperate with the United States,” Chemnitz said.

American investors, the politician says

She added that closer relations between Greenland and the United States, for example, could help facilitate investment in the island's mining industry.

“If we look at rare earth extraction, for example, this is something we have been willing to do for a very long time. We were looking for American investors, (but) we did not find them, so they are very welcome,” Chemnitz said.

The US military maintains a permanent presence in northwest Greenland at Petovik Space Base, formerly known as Thule Air Base.

'A race for what's left'

Roderick McElree, CEO of UK-based mining company 80 Mile, said he has been working in Greenland for just over 20 years on projects ranging from resource discovery to feasibility.

“I think what we're seeing in Greenland is really a race for what's left,” McElree told CNBC via video call.

“A lot of independent state surveys point to Greenland and its natural shelf boundaries as potentially hosting 20% ​​to 25% of the last remaining extractable resources on the planet. Now, if that's true, that's a tremendous opportunity for Greenland.”

This photo was taken on August 30, 2024, of the old colonial port of Nuuk in Greenland. Greenland, an icy land with a mesmerizing rugged landscape, wants to attract more tourists, a contradiction for a region particularly vulnerable to global warming and whose geographic isolation means many people have to take planes to get there.

James Brooks | AFP | Getty Images

“Great strategic interest”

In March last year, European Commission President Ursula von der Leyen traveled to Nuuk, Greenland Opening of a European Union office In the island's capital.

The move, which came several months before Donald Trump Jr.'s recent trip to the same city, was aimed at strengthening the European presence in the region as well as strengthening the European presence in the region. The wider Arctic region.

Von der Leyen announced two cooperation agreements worth a total of about 94 million euros ($95.9 million) at the time, which she said would be used to invest in clean energy, raw materials and critical skills in Greenland.

(LR) European Commission President Ursula von der Leyen, Greenlandic Prime Minister Miute P. Egede and Danish Prime Minister Mette Frederiksen signed an agreement on the opening of the European Commission's new office in Nuuk, Greenland, on 15 March.

Leif Josephsen | AFP | Getty Images

“I'm a geologist by background and I know Greenland has very good natural resources,” Paul Lusty, head of battery raw materials research at Fastmarkets, told CNBC via video call.

“There has been a lot of interest in rare earths in Greenland, for example, and they clearly could be of great strategic importance to the United States,” Lusty said.

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