In search of state capital, strategic agreements and high profile investors is Amaroq Minerals, its largest company Greenland In the industry of mineralafter the months of claiming the country by Donald Trump.
According to CEO Eldur Overfson, according to Bloomberg, the Greenland -based company is in advanced US and European Union (EU) talks, with the aim of financing mining and energy projects, as well as securing long -term buyers.
Increased international interest coincides with the growing US and Europe effort to reduce their dependence on China in the critical raw material supply chain, followed by Trump’s rhetoric on Greenland’s acquisition.
The sector of critical raw materials is crucial for the production of electric vehicles, wind turbines and defense technologies. Greenland returns at the heart of this strategy, as ice melting now makes accessible rich mining zones.
Amaroq has the largest expansion of mining licenses on the island and already operates a new gold mine. It recently raised $ 61 million in an overwhelming investment tour, with the Danish state investment EIFO participating with $ 15.4 million. Although there was no urgent need for funds, Alfson explains that investment dynamics was exploited – partly fueled by the resurgence of Trump’s interest for the island.
Greenland today remains largely economically dependent on Denmark, with an annual grant of $ 600 million, while the primary sector is mainly confined to fishing. The government hopes that mining activity can offer a new development background, with the prospect of even for future independence.
However, adverse weather conditions, high costs and demand for demand have made the development of the industry difficult. Active support from state institutions, such as the possible borrowing of $ 120 million from the US export-export bank, as well as the integration of Graphite mines into the EU’s raw material strategic plan, show climate shift.
“Everyone is looking for ways to ensure their supply,” Olfson said. “And that only good can mean for Greenland.”