Critical minerals a big part of Donald Trump’s focus | Wilnesh News

US President-elect Donald Trump’s bid to acquire Greenland is likely to be motivated by critical minerals, with mining executives and researchers describing the island’s vast resource potential as a “tremendous opportunity”.

Trump’s years-long effort to gain control of the world’s largest island has accelerated in recent weeks.

Before taking office on January 20, Trump said that U.S. ownership of the self-governing territory of Denmark was “absolute necessity” for purposes related to “national security and freedom throughout the world.”

Trump has since doubled down on those comments, Refuse to exclude Use military or economic force to make Greenland part of the United States

Greenland Prime Minister Mutt Egged told Trump that the Arctic island “Not for sale“And urges the international community to respect the territory’s aspirations for independence. Together with the Danish Prime Minister Mette FrederiksenEgede also recently called Talk to Trump to resolve the situation.

When asked about Trump’s obsession with keeping Greenland part of the United States, the president-elect’s incoming national security adviser, Rep. Michael Walz, R-Fla., was unequivocal.

“This is about critical minerals. This is about natural resources,” Walz told fox news When interviewed on January 9th.

“This is about reintroducing America to the Western Hemisphere,” Walz said. “You can call it Monroe Doctrine 2.0, but it’s all part of the ‘America First’ agenda.”

Critical minerals refer to a subset of materials considered critical to the energy transition. These minerals tend to have a high risk of supply chain disruption and include metals such as copper, lithium, nickel, cobalt and rare earth elements.

Critical minerals and rare earth elements are important components of emerging green technologies such as wind turbines and electric vehicles, energy storage technologies and national security applications.

China is the undisputed leader in critical mineral supply chains, Accounting It accounts for about 60% of the world’s production of rare earth minerals and materials. U.S. officials have previously warned that this poses a strategic challenge in the shift to low-carbon energy.

Jakob Kløve Keiding, senior advisor at the Geological Survey of Denmark and Greenland (GEUS), said in 2023 poll The Greenland Resource Potential Assessment evaluated a total of 38 raw materials on the island, the vast majority of which have high or medium potential.

These materials include the rare earth metals graphite, niobium, platinum group metals, molybdenum, tantalum and titanium.

“Overall, we can say (Greenland) has huge potential for key raw materials,” Keiding told CNBC by phone.

“Many of them are very important to the EU economy and, of course, not just Europe. Many of them are also on the US (critical raw material) list,” he added.

Aaja Chemnitz, a Danish member of the Greenland parliament from the Inuit Ataqatigiit party, called Trump’s comments about Greenland “disrespectful” and reiterated the prime minister’s message that the territory was not for sale of.

“I’m not worried. I think some people in Greenland are very worried, but I think it’s important for us that Greenland is not for sale, has never been for sale (and) never will be for sale,” Chemnitz told CNBC on Monday Silvia Amaro.

Chemnitz said Greenlandic lawmakers need to “set clear and very specific goals on how to cooperate with the United States”

She added that growing ties between Greenland and the United States, for example, could help boost investment in the island’s mining industry.

“For example, if we think about the mining of rare earths. This is something we have been willing to do for a long time. We have been looking for American investors, (but) we haven’t found them yet, so they are welcome,” Chemnitz said .

The U.S. military maintains a permanent presence at Pitufik Space Base (formerly Thule Air Base) in northwestern Greenland.

“Greenland will become more and more of a concern; because Climate change discussions, critical metals discussions and geopolitical discussions. Its proximity to the United States really makes it a natural jurisdiction for significant U.S. investment,” McCreary said.

In March last year, European Commission President Ursula von der Leyen traveled to Nuuk, Greenland. Open EU office In the capital of the island.

The move, which comes months before Donald Trump Jr.’s recent visit to the same city, is aimed at solidifying Europe’s presence in the region and the wider Arctic.

Von der Leyen announced two cooperation agreements totaling nearly 94 million euros ($95.9 million) at the time, which she said would be used to invest in Greenland’s clean energy, critical raw materials and skills.

Paul Lusty, director of battery materials research at Fastmarkets, told CNBC via video call: “I’m a geologist and I know Greenland has rich natural resources.”

“For example, there is a lot of interest in Greenland’s rare earths, which obviously have major strategic interests for the United States,” Rusty said.