Mining fever in Greenland is firing the imagination not only of Donald Trump

Luc Williams

Swamps instead of ice sheets. Miners instead of nature

Hi ice sheet and glaciers of Greenlandthat disappeared, replaced by swamps and marshy areas, overgrown with bushes and bare rocks. For mining companies The retreat of ice in Greenland may be the beginning of a new one “gold rush” related to mineral extraction.

Lack of infrastructure and roads

Tony Sage, CEO of Critical Metals Corporation, an exploration and mining company rare earth elements in Greenland, he said melting ice on the island brought “huge benefits” to his company. But in this barrel of honey there is also a large spoonful of tar. It’s about the lack of a basic one logistics infrastructure. “The Danes never built a railway (and) never built any roads,” Sage told CNBC.

Roads in Greenland they are only in cities and towns. To get from one city to another quickly, you need to use a helicopter, Sage says. According to him, this can significantly reduce the rate of growth of the “gold rush” in Greenland.

Rich deposits of critical raw materials

Jakob Kløve Keiding, senior consultant at the Danish Geological Survey and Greenland (GEUS), said that exploring the resource potential of Greenland conducted in 2023 confirmed the existence of a total of 38 raw materials on the island, the vast majority of which have relatively high or moderate potential. Among the minerals there are rare earth metals: graphite, niobium, platinum group metals, molybdenum, tantalum and titanium. Greenland is also known to have significant deposits of lithium, hafnium, and uranium gold.

These minerals are crucial in the ongoing process energy transformation. They are used in electric vehicle batteries, energy storage technologiesand are also used in creation technologies in the field of national security. “There’s a lot of potential in Greenland, but there’s not a lot of mining going on there right now,” Keiding told CNBC by phone.

Cool “gold rush”

Keiding asked about the possibility of appearing gold rush in Greenland he clearly cooled down his emotions. According to him, the retreating ice of Greenland may remove some logistical obstacles, but it will take “quite a while” before mining can be developed for good.

Trump wants Greenland

A dozen or so days ago, Greenland hit the headlines after American president-elect Donald Trump declared that he wanted to take control of the island. He emphasized then that for reasons of national security, such an approach to the matter was “an absolute necessity.” Speaking at a news conference earlier this month, Trump did not rule out the possibility of using military force to incorporate Greenland into the United States.

Greenland doesn’t want Trump

Greenland’s Prime Minister Mute Egede said on Monday that the island was open to closer relations with the USAespecially in areas such as mining. Egede has previously insisted that Greenland is “not for sale” and called on the international community to respect the island’s aspirations for independence.

About LUC WILLIAMS

Luc's expertise lies in assisting students from a myriad of disciplines to refine and enhance their thesis work with clarity and impact. His methodical approach and the knack for simplifying complex information make him an invaluable ally for any thesis writer.