Latest news with #NaajaNathanielsen
Epoch Times
2 days ago
- Business
- Epoch Times
If US, Europe Don't Move on Greenland's Minerals, the Island Could Partner With China: Minister
A Greenlandic official has raised the stakes in the contest for its minerals, suggesting that the Danish territory could turn to China if the United States and Europe do not move fast enough. Greenland's minister for mineral resources, Naaja Nathanielsen, hinted at that possibility in an interview with the Financial Times published on May 27.
Canada Standard
5 days ago
- Business
- Canada Standard
Greenland eyes Chinese investment amid new world order
Potential US involvement in mining is problematic, a minister has said, as the autonomous Danish island reassesses global ties Greenland is weighing the possibility of inviting Chinese investment to develop its mining sector in light of tensions with the US and limited engagement with the EU, the island's business and mineral resources minister, Naaja Nathanielsen, told the Financial Times on Tuesday. An autonomous territory of Denmark, Greenland holds vast but hard-to-exploit reserves of minerals such as gold and copper. Foreign capital is essential for developing the resources, yet recent geopolitical tensions have made it difficult to secure reliable partnerships. "We are trying to figure out what the new world order looks like," Nathanielsen said, adding that Greenland was "having a difficult time finding [its] footing" in evolving relationships with its Western allies. The Arctic island signed a memorandum of understanding with the US on mineral development during President Donald Trump's first term. However, according to Nathanielsen, it's coming to an end. The government in Nuuk had tried, unsuccessfully, to renew it during the administration of former US President Joe Biden. Following Trump's return to office in January, Greenland hoped to revive discussions of renewing the memorandum. Instead, the US president talked about purchasing the island and refused to rule out using military force to assert US sovereignty over it. Nathanielsen called such statements "disrespectful and distasteful," adding that Greenland "has no wish to be American." China has shown interest in the Arctic's mineral wealth, including oil, gas, and minerals. It has invested in Russian energy projects and has expressed interest in Greenland's mining sector. No Chinese companies, however, are currently operating active mines in Greenland, although one firm holds a minority stake in an inactive project. According to Nathanielsen, Chinese investors might be holding back because they don't want "to provoke anything." "In those terms, Chinese investment is of course problematic, but so, to some extent, is American," she said. Greenland would prefer closer cooperation with the EU, which aligns more closely with its environmental priorities, the minister said. However, the bloc's engagement has been slow, with only one project, led by a Danish-French consortium, currently in development. The mine is expected to begin operations within five years. READ MORE: Greenland awards major mining contract to Danish-French firm At present, Greenland has two functioning mines: one for gold, operated by the Icelandic-Canadian firm Amaroq Minerals, and another for anorthosite, a light-colored industrial rock, managed by a subsidiary of Canada's Hudson Resources. (
Russia Today
5 days ago
- Business
- Russia Today
Greenland eyes Chinese investment amid ‘new world order'
Greenland is weighing the possibility of inviting Chinese investment to develop its mining sector in light of tensions with the US and limited engagement with the EU, the island's business and mineral resources minister, Naaja Nathanielsen, told the Financial Times on Tuesday. An autonomous territory of Denmark, Greenland holds vast but hard-to-exploit reserves of minerals such as gold and copper. Foreign capital is essential for developing the resources, yet recent geopolitical tensions have made it difficult to secure reliable partnerships. 'We are trying to figure out what the new world order looks like,' Nathanielsen said, adding that Greenland was 'having a difficult time finding [its] footing' in evolving relationships with its Western allies. The Arctic island signed a memorandum of understanding with the US on mineral development during President Donald Trump's first term. However, according to Nathanielsen, it's coming to an end. The government in Nuuk had tried, unsuccessfully, to renew it during the administration of former US President Joe Biden. Following Trump's return to office in January, Greenland hoped to revive discussions of renewing the memorandum. Instead, the US president talked about purchasing the island and refused to rule out using military force to assert US sovereignty over it. Nathanielsen called such statements 'disrespectful and distasteful,' adding that Greenland 'has no wish to be American.' China has shown interest in the Arctic's mineral wealth, including oil, gas, and minerals. It has invested in Russian energy projects and has expressed interest in Greenland's mining sector. No Chinese companies, however, are currently operating active mines in Greenland, although one firm holds a minority stake in an inactive project. According to Nathanielsen, Chinese investors might be holding back because they don't want 'to provoke anything.' 'In those terms, Chinese investment is of course problematic, but so, to some extent, is American,' she said. Greenland would prefer closer cooperation with the EU, which aligns more closely with its environmental priorities, the minister said. However, the bloc's engagement has been slow, with only one project, led by a Danish-French consortium, currently in development. The mine is expected to begin operations within five years. At present, Greenland has two functioning mines: one for gold, operated by the Icelandic-Canadian firm Amaroq Minerals, and another for anorthosite, a light-colored industrial rock, managed by a subsidiary of Canada's Hudson Resources.
Russia Today
23-05-2025
- Business
- Russia Today
Greenland awards major mining contract to Danish-French firm
Greenland has granted a 30-year mining license to a Danish-French consortium seeking to extract a moon-like rock that could serve as a climate-friendly alternative in aluminum production. The permit to extract anorthosite, awarded on Wednesday to Greenland Anorthosite Mining (GAM), comes in the wake of renewed global attention on the Arctic territory. US President Donald Trump has repeatedly expressed interest in purchasing the autonomous island, which remains part of the Kingdom of Denmark. Anorthosite is a white rock primarily composed of aluminum, micro silica, and calcium. GAM intends to export crushed anorthosite for use in the fibreglass industry, positioning it as a more sustainable substitute for kaolin, the outlet said. The company is supported by the French investment firm Jean Boulle Group, along with state investment funds from both Greenland and Denmark. Announcing the deal, Greenland's Minister for Mineral Resources, Naaja Nathanielsen, said that the project's objective is to scale up operations in order to offer a climate-friendly alternative to bauxite for producing aluminum—an essential material in the manufacturing of aircraft, vehicles, and defense equipment. 'My hope is that the mine will be operational in five years,' she told Reuters. Despite the increased geopolitical attention, the minister noted that interest from the US had yet to materialize into actual investment in Greenland. Trump has been talking about making Greenland part of the US and has offered to buy the resource-rich Arctic territory from Copenhagen, but also warned that he could go as far as using force to bring it under Washington's sovereignty. Nathanielsen remarked that 'all the fuss' surrounding proposals to purchase the island had not led to a greater appetite for direct investment. While Greenland had received visits from various investors, she pointed out that there had been 'no concrete example of American funds being injected into Greenland's business community' so far. However cooperation with EU partners, she noted, is progressing.
Reuters
21-05-2025
- Business
- Reuters
Greenland gives Danish-French group permit to mine rock with green potential, in wake of Trump interest
COPENHAGEN, May 21 (Reuters) - Greenland on Wednesday handed a 30-year mining permit to a Danish-French mining group aiming to extract a moon-like rock that could offer a climate-friendly alternative in aluminium production. The Arctic island rich in minerals, oil and natural gas, and long seen as a potential resource frontier, has drawn international attention since U.S. President Donald Trump expressed an interest in purchasing it earlier this year. The permit was granted to Greenland Anorthosite Mining (GAM), which is developing a site in western Greenland. The company is backed by French investment firm the Jean Boulle Group and state investment funds in both Greenland and Denmark. Anorthosite - a white rock composed mainly of aluminum, micro silica, and calcium - is similar to the material brought back by NASA's Apollo missions. GAM plans to ship crushed anorthosite to the fibreglass industry, where it could replace kaolin as a more sustainable input. The broader ambition is to use it as an alternative to bauxite in aluminium production, a key material in reducing emissions due to its recyclability and use in lightweight vehicles. "My hope is that the mine will be operational in five years," Greenland's Mineral Resources Minister Naaja Nathanielsen told Reuters. Despite the geopolitical spotlight, Nathanielsen said the U.S.' interest in Greenland had not yet translated into tangible investment. "Right now, all the fuss has not resulted in increased appetite for investment directly in Greenland," she said, referring to Trump's proposal to buy the island. "We have welcomed a number of investors, but we have not yet seen any concrete example of American funds being injected into Greenland's business community," she said. Private U.S. business delegations have visited the island since the beginning of the year, but formal dialogue with the new U.S. administration has yet to begin, she said. However, dialogue with European partners was progressing: "There is no doubt that the dialogue with both the EU and Denmark is going smoother. This is not only the result of the noise made by the U.S. administration, but also the result of several years of intensified cooperation," Nathanielsen said. Nathanielsen was reappointed in April after a more pro-business government came to power. The island's mining sector has developed slowly, hindered by limited investor interest, bureaucratic challenges and environmental concerns. Currently, only two small mines are in operation.
