Trump's Greenland strategy: Security interests mask resource grab
Donald Trump views Greenland as crucial to U.S. security, reports "The New York Times," citing its sources. According to the "NYT," individuals close to Trump, including Howard Lutnick, are investing in mineral extraction on the island.
Donald Trump considers Greenland a strategic component of U.S. security, reports "NYT." According to the American outlet, the actions of the U.S. President may also have economic incentives. Among Trump's associates are investors interested in the island's natural resources, including Howard Lutnick, who has invested in the exploitation of local minerals.
Trump's associate invests in Greenland
Howard Lutnick, nominated as Secretary of Commerce, has, through his firm Cantor Fitzgerald, invested in the company Critical Metals Corp. This company plans to start mining in Greenland in 2026. If Lutnick is confirmed for the position in the U.S. administration, he will resign as CEO of Cantor Fitzgerald and sell his shares.
As head of the Department of Commerce, Lutnick will oversee U.S. trade policy, which may involve Greenland. His connections with investments on the island could influence policy decisions.
Recall that Greenland contains approximately 40 million tonnes of rare earth elements, constituting about 30 per cent of the world's deposits of these resources. Currently, China is responsible for 60 per cent of the extraction of rare earth metals, and their processing share reaches 90 per cent. China has begun using the export of selected resources as a means of exerting pressure, announcing export restrictions on gallium, germanium, and graphite in 2023. As experts from the Polish Economic Institute noted in their report, Donald Trump viewed Greenland as "key to increasing the resource security of the United States."
The U.S. wants Greenland. The country resists
Significant deposits of other critical resources are also found in Greenland, including around 13,000 tonnes of titanium and 13,000 tonnes of phosphorus, as well as noticeable amounts of niobium, tantalum, vanadium, graphite, and platinum group metals. These elements also appear on the lists of the European Union's so-called critical and strategic resources.
However, it is essential to remember that the idea of the U.S. acquiring Greenland sparked significant controversy. The local government responded to Trump that Greenland "does not want to be part of the United States," but is open to economic cooperation. Greenland's Prime Minister stated that his country "is not for sale."
