Amid Trump's Threats To Buy Greenland, A Quiet Visit By Team Of US Investors

NDTV

30-04-2025

Quick Take
Summary is AI generated, newsroom reviewed.
Donald Trump has expressed intent to annex Greenland and make it part of the US.
Both Denmark and Greenland have denied Trump's proposal to purchase the island.
US seeks to support Greenland's economy amid its push for independence.
Washington DC:
Donald Trump wants to annex Greenland one way or another. After trying to build diplomatic pressure over the last few months and failing at it, Washington is trying a new approach - a private sector delegation heading to Greenland this week. Its aim - to invest money, lots of it.
The timing of the private sector delegation's visit comes on the heels of that of the Danish king, who is visiting the arctic island to show unity between Denmark and its former colony. The King of Denmark is still the Head of State of Greenland.
Both Greenland and Denmark have rejected Donald Trump's plans to "buy" the arctic nation. The US President, however, has refused to rule out taking Greenland by military force if Denmark won't sell it.
The US private sector now wants to explore investment opportunities in Greenland's vast natural resources, rich in rare earth minerals. To their luck, the leadership in the arctic nation has recently changed hands, with Jens-Frederik Nielsen being elected as the new prime minister.
While Mr Nielsen has objected to any attempts being made by the United States to take over Greenland, he is also known to be a leader with pro-business views and aims to monetize the island-nation's resources.
The American business team that will visit this week includes senior officials from mining firms like American Renewable Metals and Refacture, Critical Metals Corp, and Cogency Power. The delegation will be led by Drew Horn, CEO of GreenMet and former chief of staff for the Office of International Affairs at the Department of Energy during Donald Trump's first term as US President.
The delegation will visit the Tanbreez mining deposit, one of the world's largest rare earths deposits.
Questioned about the intent behind this move, Mr Horn told news agency Reuters that "I'm not trying to do anything crazy like orchestrate a purchase or acquisition of Greenland by the United States."
It's "simply a traditional private sector business development," the former Trump aide added.
Scientific exploration has revealed that Greenland has massive mineral deposits, potentially worth trillions of dollars. Of the mineral exploration that is currently being carried out in the arctic island, most are managed and operated by Canadian, British, and Australian firms. So far, the US investment in Greenland's mineral sector has been negligible.
Greenland, which has been calling for full independence from Denmark, has been looking to boost its economy, and the US in keen to capitalise on it. Speaking about this, Mr Horn told Reuters that "Capitalization and legitimate private sector growth will facilitate greater collaboration in an independent Greenland backed by US private sector development."
He went on to say that he believes Greenland's openness to US private sector investment will bolster its independence from Denmark and ensure a viable business model.