US EditionU.S. considering investing in critical minerals mining in Greenland, Amaroq's CEO tells CNBC
The U.S. is exploring investments in Greenland's critical minerals to reduce China's supply dominance with potential deals on mining infrastructure and credit lines.
- On Thursday, Amaroq Minerals CEO Eldur Olafsson told CNBC the U.S. government is considering investing in critical minerals projects in South Greenland targeting gold, copper, germanium and gallium.
- President Donald Trump has intensified focus on Greenland, renewing talk of acquisition as integral to national security, while the White House views its minerals as key to breaking China's dominance.
- CEO Eldur Olafsson described possible deal structures, including `offtake agreements, infrastructure support and credit lines`, as Amaroq shares jumped 19.2% to $1.66, and the company employs around 300.
- European governments have reacted swiftly as Marco Rubio, U.S. Secretary of State, will meet Danish officials next week; a State Department spokesperson said the U.S. is eager to build lasting commercial relationships, while EXIM did not respond.
- Climate-Driven changes are reshaping Greenland's resource map as melting ice exposes wetlands and barren rock, intensifying competition among the U.S., Russia and China while major decisions rest with Greenland and Nordic partners, Olafsson said.
11 Articles
11 Articles
Investors piled into this miner after talk of US investment in Greenland
Houses and Archean gneiss, Sisimiut, Greenland.Marli Miller/UCG/Universal Images Group/Getty ImagesAmaroq Minerals shares jumped after reports of US talks on investing in Greenland's mining sector.CEO Eldur Ólafsson said renewed US focus on Greenland is drawing investor interest.The miner runs Greenland's Nalunaq gold mine and is pushing into high-tech metals.Shares in Greenland-focused miner Amaroq Minerals surged after its chief executive told…
The environment in Greenland is hostile to mining, but it is feasible if done right, says Amaroq CEO
Trump’s Greenland plans put investors on alert
Speculation that the US could seek to reshape Greenland’s future has moved rapidly from political theatre to market reality, forcing investors to now reassess the strategic map of critical minerals, Arctic security and long-term supply chains. This is analysis of the CEO of global financial advisory giant deVere Group as what once sounded implausible is now likely beginning to be priced into assets linked to rare earths, advanced materials and p…
Coverage Details
Bias Distribution
- 50% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
