Latest news with #Nathanielsen
Canada Standard
6 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. (
Yahoo
21-05-2025
- Business
- Yahoo
Greenland gives Danish-French group permit to mine rock with green potential, in wake of Trump interest
By Jacob Gronholt-Pedersen COPENHAGEN (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.
Yahoo
21-05-2025
- Business
- Yahoo
Greenland gives Danish-French group permit to mine rock with green potential, in wake of Trump interest
By Jacob Gronholt-Pedersen COPENHAGEN (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. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Guardian
05-03-2025
- Politics
- The Guardian
Greenland politicians condemn ‘disrespectful' Trump takeover claim
Donald Trump's claim in his address to Congress that the US will acquire Greenland 'one way or the other' was widely condemned in Nuuk as 'disrespectful' and was said to present an 'unacceptable view of humanity'. In his speech on Tuesday night, the US president was met with laughs, including from the vice-president, JD Vance, who was sitting behind him, when he said: 'I also have a message tonight for the incredible people of Greenland.' Trump said if the Arctic island, which is part of the kingdom of Denmark, chose to become part of the US, it would be welcomed. 'I think we're going to get it [Greenland]. One way or the other we're going to get it,' he said to laughs and applause. Addressing Greenlandic people, he added: 'We will keep you safe. We will make you rich. And together we will take Greenland to heights like you have never thought possible before.' Naaja Nathanielsen, Greenland's minister for natural resources, equality, business and justice, said the scenes showed a 'fundamental lack of respect for us as a people, for our historical connection to these lands and for our democratic institutions'. She said she was 'not blind' to the potential for increased trade and cooperation, but 'the absence of a respectful tone stands in the way'. She said: 'Hearing American legislators giggle over statements like 'we are gonna get it one way or the other' is disrespectful. I say no thank you to the idea of Red, White and Blueland. No thank you to the prospect of becoming an American state or some other form of American subsidiary.' Nathanielsen said the US was 'sending some very unclear signals' about who it considered allies and how it used its 'enormous power'. Using the Greenlandic name for Greenland, the prime minister, Múte Egede, said: 'Kalaallit Nunaat is ours.' He wrote on social media: 'We don't want to be Americans, nor Danes; We are Kalaallit. The Americans and their leader must understand that. We are not for sale and cannot simply be taken. Our future will be decided by us in Greenland.' Denmark formerly ruled Greenland as a colony and continues to control its foreign and security policy. Greenland goes to the polls on 11 March in a high-stakes general election that could prove pivotal in terms of its relationship with the US and how quickly it moves towards independence from Denmark. According to an opinion poll commissioned by the Danish newspaper Berlingske in January, 85% of Greenlanders do not want Greenland to be part of the US. Nathanielsen said she did not see Trump's comments as a 'reason to panic', adding: 'The speech is aimed at an American Republican audience and is intended to entertain and shock.' But she added: 'The handling of our strong neighbour will be an important issue for the upcoming Inatsisartut [parliament of Greenland] and Naalakkersuisut [government of Greenland] to deal with and I hope and believe that a majority of parties will create a common front and speak with one voice.' She urged people to vote for a party 'that is not naive about the American interests in our country'. The finance minister, Erik Jensen, said: 'It is terrible to see the view of humanity in the speech. The vice-president also laughs. It shows that they have an unacceptable view of humanity.' The Danish prime minister, Mette Frederiksen, reiterated previous statements that the future of Greenland would be decided by the Greenlandic people, but said: 'I hope as Danish prime minister that we can hold on to our commonwealth, because I believe that is to the benefit of all three countries.' In another interview, she said Denmark and Europe had benefited from 'very strong collaboration' with the US and that they would 'do what we can to hold on to the Americans'. She added: 'It is important right now that we make ourselves as strong as possible, so that we can stand in our own right in a completely different way than before.'
Yahoo
20-02-2025
- Business
- Yahoo
Greenland's ruling IA party cautious about swift independence vote
By Jacob Gronholt-Pedersen NUUK, Greenland (Reuters) - Greenland's ruling Inuit Ataqatigiit party said it will not rush an independence vote through after a March 11 general election, cautioning about possible economic and welfare implications. The Inuit Ataqatigiit (AI) party formally launched its election campaign on Thursday. Renewed interest in Greenland from the United States has invigorated the country's independence movement, sparking calls for swift secession discussions with Denmark, its former colonial ruler. See for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories. By signing up, you agree to our Terms and Privacy Policy. "I will not be triggered by the heat of the moment to make decisions in a rush," Naaja Nathanielsen, resources minister in the previous government, said in a recent Reuters interview. Polls suggest that while most Greenlanders oppose joining the U.S., a majority favour eventual independence, but differ on the timeline due to potential living standards impacts. In a significant policy shift, Siumut, the government coalition partner of IA, announced plans this month to invoke an article in a 2009 law granting Greenland enhanced autonomy, including the right to negotiate full independence. Naleraq, Greenland's third-biggest party and a leading advocate for independence, also aims to put a deal to a vote before the next election in four years. "For us, it's not a matter of who can speak more brazen about it. It's about ensuring independence and the right alliances, and maintaining welfare levels," Nathanielsen said. Greenland's economy is reliant on fishing, which accounts for over 95% of exports, and annual subsidies from Denmark that fund about half of the public budget. Nathanielsen suggested that to establish a self-sustaining economy, Greenland should prioritize the development of its tourism and mining industries, aiming to operate between three and five mines, compared to the current single mine. Since the formation of its first parliament in the 1970s, Greenland has been steadily progressing toward independence. In 2009, it gained further autonomy, including the right to declare full independence through a referendum. A draft constitution was introduced in 2023, and a commission was set up last year to evaluate the steps necessary for Greenland's independence. "At some point, there will be a referendum. I cannot tell you if it's the next election cycle, or the next again, and what it will precisely entail, but I know things will progress," said Nathanielsen. The left-wing IA party currently holds 11 seats in the 31-seat parliament.
