A aircraft mentioned to be carrying American businessman Donald Trump Jr. arrives in Nuuk, Greenland on January 7, 2025.
Emil Stach | Afp | Getty Photos
President-elect of the USA Donald Trumpis persecution The acquisition of Greenland could also be motivated by crucial minerals, with mining executives and researchers describing the island’s huge useful resource potential as a “great alternative.”
of Trump long-term bidding to take management of the world’s largest island has accelerated in latest weeks.
Earlier than his inauguration on January 20, Trump mentioned that US possession of the autonomous Danish territory was “an absolute necessity” for functions associated to “nationwide safety and freedom all through the world”.
Trump has since doubled down on these feedback, refusing to turn off the usage of navy or financial drive to make Greenland a part of the USA
Greenland Prime Minister Mute Egede instructed Trump the Arctic island was “not for sale” and known as on the worldwide group to respect the territory’s aspirations for independence. Along with the Danish Prime Minister Mette FrederiksenEgede additionally lately named for talks with Trump to resolve the scenario.
Requested about Trump’s willpower to make Greenland a part of the U.S., the president-elect’s incoming nationwide safety adviser, Rep. Michael Waltz, R-Fla., was unequivocal.
“That is about necessary minerals. It is about pure assets,” Waltz mentioned Fox News in an interview on 9 Jan.
“It is about reintroducing America to the Western Hemisphere,” Waltz mentioned. “You could possibly name it the Monroe Doctrine 2.0, however it’s all a part ofAmerica first“agenda.”
Greenland will change into more and more related; it would change into more and more entrance and heart due to the local weather change dialogue, the crucial metals dialogue, and the geopolitical dialogue.
Roderick McIlry
CEO of 80 Mile
Important minerals check with a subset of supplies thought-about important to energy transition. These minerals that are likely to have a excessive danger of provide chain disruption embody metals corresponding to copper, lithium, nickel, cobalt and uncommon earth parts.
Important minerals and uncommon earth parts are very important parts in rising inexperienced applied sciences corresponding to wind generators and electric vehiclesvitality storage applied sciences and nationwide safety purposes.
It is China undisputed leader of the crucial provide chain of minerals, accounting for roughly 60% of world manufacturing of uncommon earth minerals and supplies. US officers have completed it earlier than warned that this represents a strategic problem within the context of the transition to low-carbon vitality sources.
On this aerial view, melting icebergs fill the Ilulissat Ice Fjord on July 16, 2024. close to Ilulissat, Greenland.
Sean Gallup | Getty Photos Information | Getty Photos
Jakob Kløve Keiding, senior marketing consultant on the Geological Survey of Denmark and Greenland (GEUS), mentioned that in 2023 study of Greenland’s useful resource potential assessed a complete of 38 assets on the island, nearly all of which have comparatively excessive or average potential.
These supplies embody the uncommon earth metals graphite, niobium, platinum group metals, molybdenum, tantalum and titanium.
“Total, we are able to say that there’s a enormous potential for crucial uncooked supplies [in Greenland]Kaeding instructed CNBC by telephone.
“Many of those are of nice significance to the EU economic system, and naturally it’s not restricted to Europe. Lots of them are additionally on the American record [critical raw materials]”, he added.
“Greenland is just not on the market”
Aaya Kemnitz, a Greenlandic member of the Danish parliament from the Ataqatigiit Inuit occasion, known as Trump’s feedback on Greenland “disrespectful” and echoed the prime minister’s message, saying the territory was not on the market.
“I am not involved. I feel some individuals in Greenland are fairly involved, however I feel it is necessary for us to say that Greenland is just not on the market, by no means has been on the market [and] it would by no means promote,” Chemnitz instructed CNBC’s Silvia Amaro on Monday.
Chemnitz mentioned Greenlandic lawmakers must have “clear and really particular targets on learn how to cooperate with the US.”
Nearer ties between Greenland and the US transferring ahead, for instance, might assist facilitate funding within the island’s mining business, she added.
“If we take a look at mining, for instance, of uncommon earth parts. It is one thing we have been able to do for a really very long time. We’re on the lookout for American traders, [but] we’ve not discovered them, in order that they’re welcome,” Chemnitz mentioned.
The U.S. navy maintains a everlasting presence in northwest Greenland at Pitufik Area Base, previously often known as Thule Air Base.
“Race for what’s left”
Roderick McIlry, chief govt of UK-based mining firm 80 Mile, mentioned he had been working in Greenland for simply over 20 years on tasks starting from useful resource discovery to feasibility.
“I feel what we’re seeing in Greenland is mostly a race for what’s left,” McIlrey instructed CNBC by way of video name.
“Many impartial authorities research point out that Greenland and its pure shelf boundaries doubtlessly comprise 20% to 25% of the planet’s final remaining extractive assets. Now, if that is true, it is an enormous alternative for Greenland.”
The previous colonial port of Nuuk, Greenland is photographed on August 30, 2024. Greenland, an icy land whose harsh landscapes are mesmerizing, desires to draw extra vacationers, a paradox for a territory that’s significantly susceptible to international warming and whose geographic isolation means many individuals should take planes to get there.
James Brooks | Afp | Getty Photos
80 Mile at the moment has three tasks it’s actively growing in Greenland, together with a big oil concession on the island’s east coast, a titanium venture close to Pituffik within the northwest and its Disko-Nuussuaq venture within the southwest.
Highlighting the useful resource potential of the territory, McIlry mentioned the agency’s Disko venture might be one of many largest nickel and copper deposits on the planet.
“Greenland will change into an increasing number of related; it would change into more and more entrance and heart because of climate change dialogue, crucial metals dialogue and geopolitical dialogue. And its proximity to the U.S. actually makes it a pure jurisdiction for vital U.S. funding,” McIleary mentioned.
“If Greenland performs its playing cards proper, it would result in their independence,” he added.
“Important strategic curiosity”
In March final yr, European Fee President Ursula von der Leyen traveled to Nuuk, Greenland, to opens an EU office within the capital of the island.
The transfer, which got here a couple of months earlier than Donald Trump Jr.’s latest go to to the identical metropolis, was aimed toward cementing Europe’s presence within the territory, in addition to wider arctic region.
Von der Leyen introduced two cooperation agreements totaling nearly 94 million euros ($95.9 million) on the time, which she mentioned can be used to put money into clear vitality, crucial uncooked supplies and abilities in Greenland.
(LR) European Fee President Ursula von der Leyen, Greenland Prime Minister Mute B Egede and Danish Prime Minister Mette Frederiksen signed an settlement to open the European Fee’s new workplace in Nuuk, Greenland, on March 15,
Leif Josefsen | Afp | Getty Photos
“I am a geologist by background and I do know that Greenland could be very properly endowed with pure assets,” Paul Lusty, head of battery uncooked supplies analysis at Fastmarkets, instructed CNBC by way of video name.
“There’s been a variety of curiosity within the uncommon earth parts in Greenland, for instance, and clearly they might be of great strategic curiosity to the US,” Lusty mentioned.
