An undiscovered source of rare earths: Greenland in the spotlight of the West

European countries and the U.S. are ramping up efforts to reduce reliance on China for vital resources, Euronews writes.

Greenland is home to some of the world’s largest untapped rare earth deposits. They are important ingredients in electric vehicles, powerful magnets, advanced fighter jets, submarines, smartphones, television screens and many other products. China’s dominance over critical minerals in global supply chains became a powerful bargaining chip in the recent trade talks between Beijing and Washington. U.S. Treasury Secretary Scott Bessent announced last week that the two countries reached an agreement to ease a process of rare-earth shipments into America. CEO of Greenland’s biggest miner Amaroq Minerals Ltd., Eldur Olafsson, says the company recently raised £45 million from European and the US investors, and is in talks with some state-backed agencies in the EU and US. To remind, U.S. President Donald Trump has repeated his interest in taking control of the mineral rich Arctic island that sits strategically between Europe and America. Greenlandic Prime Minister Jens-Frederik Nielsen, who was elected earlier this year, said that US statements about the island have been disrespectful and that Greenland “will never, ever be a piece of property that can be bought by just anyone.”