Trump's push for Greenland mineral riches fuels security debate
Donald Trump views Greenland as crucial to U.S. security, reports "The New York Times," citing its sources. According to the "NYT," people close to Trump, including Howard Lutnick, are investing in mineral extraction on the island.
Trump perceives Greenland as strategic to U.S. security, the "NYT" reports. According to the media outlet, the actions of the U.S. President may also have economic motives. Among Trump's associates are investors interested in the island's natural resources, including Howard Lutnick, who has invested in exploiting local minerals.
Trump's associate invests in Greenland
Howard Lutnick, nominated as Secretary of Commerce, has invested in Critical Metals Corp through his firm Cantor Fitzgerald. This company plans to start mining in Greenland in 2026. If Lutnick is confirmed for the position in the U.S. administration, he will resign as CEO of Cantor Fitzgerald and sell his shares.
As head of the Department of Commerce, Lutnick will oversee U.S. trade policy, which may include Greenland. His connections with investments on the island could influence policy decisions.
Recall that Greenland has 39.8 million tons of rare earth elements, accounting for about 30 percent of the world's deposits. Currently, China accounts for 60 percent of rare earth metals extraction, and its processing share reaches 90 percent. China has begun using the export of selected resources as a pressure tool, announcing restrictions on gallium, germanium, and graphite exports in 2023. Experts from the Polish Economic Institute indicated in their report that Donald Trump sees Greenland as "key to increasing the resource security of the United States."
The U.S. wants Greenland. The country resists
Greenland also has significant deposits of other critical resources, including 13,300 tons of titanium and 12,700 tons of phosphorus, as well as niobium, tantalum, vanadium, graphite, and platinum group metals. These elements appear on the critical and strategic resources list for the European Union.
However, it is essential to remember that the idea of the U.S. acquiring Greenland sparked significant controversy. The local government responded to Trump that Greenland "does not want to be part of the United States," but is open to economic cooperation. Greenland's Prime Minister stated that his country "is not for sale."
