By Swann Collins, investor, writer and consultant in international affairs – Eurasia Business News. January 7, 2025. Article no 1368.
U.S. President-elect Donald Trump once again said today that he may consider using military force to gain control over Greenland, asserting its importance for U.S. national security. He stated, “It might be necessary to take some action” during a recent press conference today at his residence of Mar-a-Lago.
Could the rich mining resources of Greenland motivate the plan of President Trump to take Greenland into U.S. territory ?
Greenland is rich in various mineral resources, which have garnered significant interest for exploration and extraction. Here are the key resources found in Greenland:
Major Mining Resources
Copper: A critical resource with several exploration projects underway on the territory of Greenland.
Gold: Historically mined, with ongoing interest in new deposits. The past-producing Nalunaq gold mine was open between 2004 and 2013, producing a total of over 350,000 ounces of gold. Amaroq acquired the project in 2015 and has since expanded the extent of the resource base through drilling, incorporating a new geological model (Dolerite Dyke).
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Lead and Zinc: Notable reserves, with active projects like Ironbark’s Citronen site focused on zinc-lead extraction.
Rare Earth Elements (REEs): Greenland has high potential for REEs, with significant deposits identified at sites like Kringlerne and Sarfartoq. The majority of Greenland’s REE deposits are associated with peralkaline intrusions and carbonatites, particularly in the Gardar Province, which dates back to the Mesoproterozoic era. The geological formations provide a conducive environment for the concentration of these valuable minerals.
The potential development of these resources could help reduce reliance on Chinese-controlled supply chains, as China currently dominates the global REE market with a 90% share.
Titanium: Extracted from ilmenite deposits, particularly in the Dundas Project.
Molybdenum: The Malmbjerg deposit is in late exploration stages, indicating commercial viability.
Precious Stones: The Greenland Ruby mine produces rubies and pink sapphires.
Graphite and Coal: Historically mined, with potential for future extraction. Greenland has substantial graphite deposits, which are essential for batteries and other industrial applications. This resource is becoming increasingly important as the world shifts towards electric vehicles and renewable energy technologies.
Emerging Opportunities
Nickel and Cobalt: Recent joint ventures, such as the Disko-Nuussuaq project, highlight the growing interest in these metals due to their importance in battery production.
Uranium: While controversial, there are known deposits that could be exploited if regulatory conditions change.
Current Mining Operations
Greenland currently has two active mines:
1/ Greenland Ruby Mine : Producing rubies and pink sapphires ;
2/ White Mountain Anorthosite Mine: Producing anorthosite used in various industries.
Government Support
The Government of Greenland promotes mining as a vital industry to diversify the economy and reduce dependency on Denmark. Exploration activities have attracted significant investment, with over $ 500 million invested in the last decade.
More than 100 active mining licenses have been issued, indicating robust interest in mineral extraction.The combination of abundant resources and increasing global demand for minerals positions Greenland as a key player in the mining sector, particularly as climate change makes previously inaccessible areas more reachable for exploration and development.
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© Copyright 2024 – Eurasia Business News. Article no. 1368.
Eurasia Business News 