Trump Advocates for Acquisition as Greenland’s Mineral Reserves Rank Among the World’s Largest
‘The Big Money Show’ panel reacts to President Donald Trump’s Davos speech, his economic agenda for Main Street, and renewed pressure on NATO allies.
President Donald Trump’s ambition for the U.S. to acquire Greenland from Denmark is gaining traction, particularly in light of the increasing demand for critical minerals found in significant reserves on this Arctic island.
Rare earth minerals encompass a group of 17 elements, including 15 metals, that are essential for various applications. These range from artificial intelligence and consumer electronics to electric vehicles (EVs), aircraft engines, medical equipment, oil refining, semiconductors, and military technologies such as missiles and radar systems.
China currently dominates the rare earth market, producing 270,000 tons in 2024, which accounts for a significant portion of the global total of 390,000 tons. In contrast, U.S. production lags behind at just 45,000 tons, as reported by the U.S. Geological Survey (USGS).
Greenland, a semi-autonomous territory within the Kingdom of Denmark, is rich in critical minerals, including gold, iron, copper, graphite, germanium, and gallium. However, the development of these resources has been hampered by the island’s remote location, harsh climate, and stringent environmental regulations.
TRUMP DOUBLES DOWN ON GREENLAND PUSH AS POLLS SHOW LITTLE PUBLIC SUPPORT
Greenland’s reserves of rare earths are among the largest in the world. (Julia Wäschenbach/picture alliance/Getty Images / Getty Images)
The USGS analysis revealed that in 2023 and 2024, no rare earths were mined on the Arctic island. This untapped potential has heightened U.S. interest in Greenland, alongside that of geopolitical rivals like China and Russia.
According to the USGS, Greenland possesses 1.5 million tons of rare earth mineral reserves, ranking eighth globally among the countries analyzed in the agency’s report. Other nations with larger reserves include China (44 million tons), Brazil (21 million tons), India (6.9 million tons), Australia (5.7 million tons), Russia (3.8 million tons), Vietnam (3.5 million tons), and the U.S. (1.9 million tons).
In October, the U.S. and Australia finalized an $8.5 billion deal to develop critical minerals.
TRUMP TELLS DAVOS US ALONE CAN SECURE GREENLAND, INSISTS HE WON’T ‘USE FORCE’
Residents of Greenland as well as the Danish government have opposed Trump’s push to acquire the island nation. (Alessandro Rampazzo/AFP/Getty Images)
Two significant rare earth deposits in Greenland, known as Kvanefjeld and Tanbreez, are believed to be among the largest globally and may host future mining operations.
During Trump’s first term in 2019, the U.S. and Greenland signed a memorandum of understanding to jointly explore the region’s mineral reserves and share technical expertise for their development. However, this MOU is nearing its expiration, as noted in a CSIS report.
The CSIS also highlighted that last year, the U.S. Export-Import Bank expressed interest in providing a $120 million loan to Critical Metals Corp. for the Tanbreez rare earth mine, which would mark the administration’s first overseas investment in a mining project if approved.
Trump has intensified his efforts to acquire Greenland, suggesting that the U.S. could purchase the territory from Denmark. He has emphasized the need for full U.S. control over Greenland to prevent China or Russia from taking over.
Recently, Trump announced he would not proceed with tariffs on several European allies after reaching an agreement with NATO’s leader regarding a framework for a future deal on Greenland.
On his Truth Social platform, Trump stated that after a productive meeting with NATO Secretary General Mark Rutte, they established a framework for a future deal concerning Greenland and the entire Arctic region.
TRUMP’S GREENLAND TAKEOVER WOULD LIKELY ENTAIL ENORMOUS PRICE TAG: REPORT
Rare earth minerals are used in a variety of industrial applications that play important roles in the modern economy. (Victor Moriyama/Bloomberg)
The governments of Greenland and Denmark have World Economic Forum in Davos, Switzerland, Trump recalled that the U.S. administered Greenland during World War II before returning it to Denmark post-conflict. He also ruled out military force in acquiring Greenland, despite previously stating that all options were on the table.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
“We never asked for anything,” Trump remarked regarding U.S. relations with NATO. “And we never got anything.”
Fox News Digital’s Emma Colton contributed to this report.
‘The Big Money Show’ panel reacts to President Donald Trump’s Davos speech, his economic agenda for Main Street, and renewed pressure on NATO allies.
President Donald Trump’s ambition for the U.S. to acquire Greenland from Denmark is gaining traction, particularly in light of the increasing demand for critical minerals found in significant reserves on this Arctic island.
Rare earth minerals encompass a group of 17 elements, including 15 metals, that are essential for various applications. These range from artificial intelligence and consumer electronics to electric vehicles (EVs), aircraft engines, medical equipment, oil refining, semiconductors, and military technologies such as missiles and radar systems.
China currently dominates the rare earth market, producing 270,000 tons in 2024, which accounts for a significant portion of the global total of 390,000 tons. In contrast, U.S. production lags behind at just 45,000 tons, as reported by the U.S. Geological Survey (USGS).
Greenland, a semi-autonomous territory within the Kingdom of Denmark, is rich in critical minerals, including gold, iron, copper, graphite, germanium, and gallium. However, the development of these resources has been hampered by the island’s remote location, harsh climate, and stringent environmental regulations.
TRUMP DOUBLES DOWN ON GREENLAND PUSH AS POLLS SHOW LITTLE PUBLIC SUPPORT
Greenland’s reserves of rare earths are among the largest in the world. (Julia Wäschenbach/picture alliance/Getty Images / Getty Images)
The USGS analysis revealed that in 2023 and 2024, no rare earths were mined on the Arctic island. This untapped potential has heightened U.S. interest in Greenland, alongside that of geopolitical rivals like China and Russia.
According to the USGS, Greenland possesses 1.5 million tons of rare earth mineral reserves, ranking eighth globally among the countries analyzed in the agency’s report. Other nations with larger reserves include China (44 million tons), Brazil (21 million tons), India (6.9 million tons), Australia (5.7 million tons), Russia (3.8 million tons), Vietnam (3.5 million tons), and the U.S. (1.9 million tons).
In October, the U.S. and Australia finalized an $8.5 billion deal to develop critical minerals.
TRUMP TELLS DAVOS US ALONE CAN SECURE GREENLAND, INSISTS HE WON’T ‘USE FORCE’
Residents of Greenland as well as the Danish government have opposed Trump’s push to acquire the island nation. (Alessandro Rampazzo/AFP/Getty Images)
Two significant rare earth deposits in Greenland, known as Kvanefjeld and Tanbreez, are believed to be among the largest globally and may host future mining operations.
During Trump’s first term in 2019, the U.S. and Greenland signed a memorandum of understanding to jointly explore the region’s mineral reserves and share technical expertise for their development. However, this MOU is nearing its expiration, as noted in a CSIS report.
The CSIS also highlighted that last year, the U.S. Export-Import Bank expressed interest in providing a $120 million loan to Critical Metals Corp. for the Tanbreez rare earth mine, which would mark the administration’s first overseas investment in a mining project if approved.
Trump has intensified his efforts to acquire Greenland, suggesting that the U.S. could purchase the territory from Denmark. He has emphasized the need for full U.S. control over Greenland to prevent China or Russia from taking over.
Recently, Trump announced he would not proceed with tariffs on several European allies after reaching an agreement with NATO’s leader regarding a framework for a future deal on Greenland.
On his Truth Social platform, Trump stated that after a productive meeting with NATO Secretary General Mark Rutte, they established a framework for a future deal concerning Greenland and the entire Arctic region.
TRUMP’S GREENLAND TAKEOVER WOULD LIKELY ENTAIL ENORMOUS PRICE TAG: REPORT
Rare earth minerals are used in a variety of industrial applications that play important roles in the modern economy. (Victor Moriyama/Bloomberg)
The governments of Greenland and Denmark have World Economic Forum in Davos, Switzerland, Trump recalled that the U.S. administered Greenland during World War II before returning it to Denmark post-conflict. He also ruled out military force in acquiring Greenland, despite previously stating that all options were on the table.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
“We never asked for anything,” Trump remarked regarding U.S. relations with NATO. “And we never got anything.”
Fox News Digital’s Emma Colton contributed to this report.
