Beneath Greenland’s Ice Lies a Climate Solution—and a New Geopolitical Battleground
1 min read
Summary
Greenland could become a mining haven for the rare earth minerals needed for modern life and the energy transition, but its terrain and climate, as well as social factors, provide significant challenges for companies that want to extract them.
With China dominating the rare earth minerals market, there is increasing interest from mining companies and Western governments to exploit the reserves in Greenland.
Around 40 mining companies, mostly from Australia, Canada and the UK, already have licenses to prospect in Greenland, and the recent election of a pro-business party could accelerate extraction.
Greenland’s government is eager to diversify its economy away from fishing and sees the potential bonanza from rare earth mining, but also recognizes the environmental impacts of such mining.
Pollution from shipping to and from mining sites, as well as from the mines themselves, could further damage Greenland’s fragile environment and its inhabitants, who are already concerned about the aggressive language used by the US and others regarding mining prospects.
