The Minister of Enterprise and Mineral Assets of Greenland Naaja Nathanielsen spoke throughout an interview with AFP at his workplace in Nuuk, Greenland, on March 6, 2025.
Unusual Andersen | AFP | Ghetto pictures
Greenland has little curiosity in utilizing its large potential for assets to develop into one of the best nation for yield.
The biggest island on this planet has been put in Geopolitical In latest months, US President Donald Trump has repeatedly mentioned that Washington should management the autonomous Danish territory – even refusing to rule out using army or financial energy.
Trump’s pursuit of Greenland comes as mining leaders describe The competitors for a big extent unused assets on the Arctic Island as a “big alternative”. Nonetheless, The Greenland tough local weather, a distant panorama and lack of infrastructure are listed as limitations over the strategic potential of the island.
Naaja Nathanielsen, the Minister of Enterprise and Mineral Assets of Greenland, advised CNBC that the operation of a few of the extremely priced minerals on the territory is “completely potential and viable”, noting that a number of mining initiatives are already underway.
“We at the moment have initiatives that I believe are very promising: graphite, gold, copper, nickel, molybdenum, and so on.Squawk Box Europe“On Friday.
“However for Greenland, we do not have to be serious about changing into a very nice yield nation. We simply actually need 5 or 10 lively mines at any given second,” Nathanielsen mentioned.
“We’re a really small inhabitants, so we don’t want the entire nation to be coated with mines. We’re happy to handle a couple of and I believe that is potential,” she added.
Greenland, which at the moment has solely two lively mines on the island, has lengthy been presenting itself as a Western various to China near a monopoly of uncommon earth parts.
Truly 2023 exploration By way of the geological survey of Denmark and Greenland (GEU), they discovered that 25 of the 34 minerals have been acknowledged as vital uncooked supplies by the European Fee have been present in Greenland.
These minerals embrace graphite, molybdenum and titanium, all of that are anticipated to play a key position in rotation to extra resistant vitality sources.
Mine operations
Earlier this week the Crucial Metals Company Growth Firm declared He has obtained a letter of curiosity from the Financial institution for the export-importation of the USA for a mortgage of as much as $ 120 million to finance the Tanbreez Uncommon Earths Mine mine in South Greenland.
Specifically, the funding package deal marks the primary investments overseas of the Trump administration in a yield venture.
On this air view, Ilulissat Icefjord Iceberg Crowds are melting on July 16, 2024 close to Ilulisat, Greenland.
Sean Galup Getty Pictures Information | Ghetto pictures
Greenland’s authorities additionally lately approved A 30-year permission for the extraction of the Danish-French Mining Group for the operation of anortositis, a rock wealthy in aluminum, on website in Western Greenland.
Individually, Eldur Olafson, CEO of the mining firm, targeted on Greenland, has recognized Greenland as an “unbelievable nation” to work in.
“Geology is such that Greenland has toured the world throughout geological occasions and has gone all over the place – which suggests there’s publicity to most mineral assets,” Olafson advised CNBC “Europe Early Edition“On Thursday.
“He has a incredible jurisdiction relating to regulation. It’s based mostly on Scandinavian ideas and regulation,” he added.
A typical view of the Nuuk residential district, Greenland, on March 10, 2025, on the eve of parliamentary elections in Greenland, the autonomous Danish territory. For 2 days, a storm and a mushy climate have torn political posters of posts and melted snow within the capital of Greenland.
Unusual Andersen | AFP | Ghetto pictures
Requested how the US prospect of shopping for Greenland can have an effect on the operations and views of the corporate, Olafson mentioned the destiny of Greenland was for the selection of Greenland.
“Ultimately, I believe Greenland will develop into the probably unbiased nation, supported by the Scandinavian nations and supported by the USA, simply as Iceland was,” Olafson mentioned.
Studying from the previous
Nathanielsen of Greenland mentioned the territory has “very excessive” requirements for the setting, social and administration (ESG), partly due to its earlier issues with mining air pollution.
“I believe the individuals of Greenland actually assist the mining trade, which is kind of uncommon whenever you have a look at different jurisdictions. However they do it as a result of they place confidence in us that we’ve a excessive environmental commonplace and maintain native communities,” Nathanielsen mentioned.
“And if we begin folding with this, we may even lose individuals’s assist for this trade. That is actually essential to us. So, I believe we’ve discovered from the previous,” she added.
