US President Donald Trump, inaugurated today (Jan. 20), recently reiterated his interest in taking control of Greenland, a semi-autonomous territory of Denmark that could be useful to the US due to its strategic location and rich mineral resources, some of which are essential for energy production.

Its allies in the US House of Representatives are trying to win support for a bill authorizing talks to buy the island, while Greenland Prime Minister Mute Egede said the country is ready to start a dialogue on its own terms.

No oil or gas production yet?

A 2023 study showed that 25 out of 34 minerals classified as "critical raw materials" by the European Commission were found in Greenland. The extraction of oil and gas is (still?) prohibited in Greenland for environmental reasons.

Below you will find details of the most important mineral deposits in Greenland, based on data from the Greenland Mineral Resources Authority and Reuters:

Rare earths

Three of Greenland's largest deposits are located in the southern province of Gardar. Companies looking to develop rare earth mines include Critical Metals Corp, which has bought the Tanbreez deposit; Energy Transition Minerals, whose Kuannersuit project has stalled due to legal disputes; and Neo Performance Materials. Rare earths are key to permanent magnets used in electric vehicles (EV) and wind turbines.

Graphite

Deposits of graphite and graphite schist are reported from many locations on the island. GreenRoc has applied for an exploitation license to develop the Amitsoq graphite project. Natural graphite is mainly used in EV batteries and steel production.

Copper

Of particular interest are the underexplored areas in the northeast and central east of the island. 80 Mile, which is listed on the London Stock Exchange, wants to develop the Disko-Nuussuaq deposit, which contains copper, nickel, platinum and cobalt.

Nickel

According to the Mineral Resources Authority, there are numerous traces of nickel accumulations. The major mining group Anglo American was awarded a five-year exploration license in West Greenland in mid-2019 and has been looking for nickel deposits, among other things.

Zinc

Zinc occurs mainly in the north in a geological formation that stretches over more than 2,500 km. Companies have attempted to develop the Citronen Fjord zinc and lead project, which is considered one of the largest undeveloped zinc resources in the world.

Gold

The most promising areas for gold potential are located around the Sermiligaarsuk Fjord in the south of the country. Amaroq Minerals opened a gold mine on Nalunaq Mountain in the municipality of Kujalleq last year.

Iron ore

The deposits are located near Isua in southern West Greenland, near Itilliarsuk in central West Greenland and in northwest Greenland along the Lauge Koch Kyst.

Titanium/vanadium

Known deposits of titanium and vanadium are located in the southwest, east and south of the island. Titanium is used for medical and industrial purposes, while vanadium is mainly used for the production of special steel alloys.

Tungsten

Tungsten is used for various industrial applications and is mainly found in the central east and northeast of the country, with evaluated deposits in the south and west.

Uranium

In 2021, the left-wing Inuit party Ataqatigiit banned uranium mining, effectively halting the development of the Kuannersuit rare earth project.

Power2market remains on the topic.