President Joe Biden's administration is making a final push for critical resources in the final weeks of its term. Targeting Greenland's mineral resources riches, Under Secretary for Economic Growth, Energy, and the Environment Joe Fernandez spent much of the last week in Nuuk, meeting Greenland's government officials and facilitating connections with foreign investors.
"Greenland wants to become the next mining frontier," Fernandez said, per Offshore Engineer.
However, Greenland faces multiple issues. Difficult terrain and harsh climates have left large areas insufficiently mapped, limiting precise resource quantification. Furthermore, the island nation, striving to achieve full independence from Denmark, faces a rapidly aging population.
Still, officials are optimistic about partnerships with U.S. companies and allies, hoping these collaborations will advance mining and meet higher environmental standards.
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"In Greenland, we see the development of critical minerals as a shared global responsibility," said Naaja Nathanielsen, Greenland's Minister for Industry, Trade, and Minerals.
Greenland's untapped resources include rare earth elements, nickel, molybdenum, and graphite. These materials are vital for manufacturing batteries, renewable energy infrastructure, and other technologies central to the green transition.
The Biden administration has allocated billions through the Departments of Energy and Defense to bolster U.S. mineral projects. Yet, some high-profile initiatives, such as the Pebble mine in Alaska and the Twin Metals project in Minnesota, have been halted due to environmental risks.
Despite concerns that incoming president Donald Trump may reverse some of these programs, analysts believe his anti-China stance would favor strengthening critical mineral supply chains.
"Future federal funding for the development of a domestic supply chain may be more frugal following a Trump outcome, but his administration's stance remains quite anti-China, and developing a domestic supply chain would remain aligned with this ideology," Benchmark Intelligence analyst Adam Megginson told Investing News Network.
Greenland's historical ties to the U.S., due to its significant military presence, geographical proximity, and increasing Chinese interest in the island, give Trump plenty of reasons to support this effort.
It is worth mentioning that one of Trump's last actions in office was approving the Thacker Pass lithium project in Nevada. Furthermore, earlier this year, he vowed to overturn Biden's 20-year mining ban in Minnesota's Superior National Forest, which holds rich manganese, nickel, copper, and titanium deposits.
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