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Time of India

Blow to Trump: 10 points on rare earth minerals deal Greenland has signed with Europe

In a massive blow to US President Donald Trump, Greenland has allowed a Danish-French consortium to mine a rock which is key to the production of aluminum. On Wednesday, Greenland granted a 30-year mining license to a Danish-French mining consortium seeking to extract a moon-like rock that may serve as a climate-friendly alternative in aluminum production. Donald Trump continues to insist that the US could 'get' Greenland, which is part of the kingdom of Denmark, despite Copenhagen saying that's impossible. Vice President JD Vance visited Greenland in March for a quick stop at the US military base there after island residents rejected a broader visit. During that trip, Vance scolded Denmark but acknowledged that Greenland would control its own sovereignty — while still suggesting that it may want to make a deal with the United States. But Trump's talks of annexing Greenland is still in talking stage. ALSO READ: Hidden provision in Trump's 'big, beautiful bill' might undermine US Supreme Court authority Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Chuck Norris: I Stay Away From These 3 Foods Like The Plague Roundhouse Provisions Learn More Undo Here are ten points about the Greenland-Europe minerals deal: -Greenland has granted a Danish-French consortium the right to exploit a type of rock essential for aluminum production, but used in various industries, including the glass fiber industry. -The permit was issued to Greenland Anorthosite Mining (GAM) for the extraction of anorthosite—an important mineral—following earlier interest from U.S. President Donald Trump in purchasing the autonomous island, which is part of the Kingdom of Denmark. Live Events -According to Reuters, GAM, supported by the French company Jean Boulle Group and real estate investment funds from Denmark and Greenland, has been granted an exploitation permit for the next 30 years. ALSO READ: Trump's 'Big, beautiful bill' is here: Who are the top gainers and losers? Check details -Jesper Willaing Zeuthen, associate professor at Aalborg University, in Denmark, told Newsweek Trump's interest in Greenland's resources is likely to be more in securing long-term investment objects which is difficult under current Greenlandic legislation. -Greenland Anorthosite Mining (GAM) has received approval to mine anorthosite—a white rock primarily made up of aluminum, micro silica, and calcium. The company intends to export the crushed material from western Greenland for use in the fiberglass manufacturing industry. -In announcing the 30-year permit, Greenland's Mineral Resources Minister Naaja Nathanielsen said the goal was to scale the project to become a climate-friendly alternative to bauxite in producing aluminum for aircraft, vehicles and defense. -Although business delegates from the US visited the island this year, the rhetoric of the Trump administration has not resulted in formal dialogue or direct investments. Collaboration with the EU and Denmark is proceeding more smoothly, the minister added. ALSO READ: 'Stranger Things' Season 5: Dates, episode titles, cast members and other details about the final season's release -Greenland gained international attention after President Trump voiced interest in purchasing the Arctic island, known for its wealth of minerals, oil, and natural gas. However, Greenland's Minister for Mineral Resources, Naaja Nathanielsen, stated that despite US interest, no investments have materialized. She noted that business discussions with European partners are advancing at a faster pace. -Jesper Willaing Zeuthen, associate professor at Aalborg University in Denmark, told Newsweek on Thursday that Trump's interest in resources from Greenland is likely to focus more on long-term investment objects, and securing the minerals in the future but not the immediate development of mines. -GAM is supported by the Jean Boulle Group, a French investment firm, along with state investment funds from both Greenland and Denmark. Speaking to Newsweek, Zeuthen noted that the company will still need to secure additional investors to move forward with construction—a stage at which many similar projects have previously stalled.