Tech buyers are sounding out how the U.S. taking Greenland would have an effect on the viability of vital and uncommon earth minerals mining there, CNBC has realized, as Washington ramps up its pursuit of the Arctic island.
Greenland has discovered itself on the heart of a geopolitical firestorm over the previous week because the U.S. has threatened to annex the self-governing Danish territory, citing nationwide safety considerations. Business alternatives have additionally come into the highlight.
Prior to now week, Important Metals Corp, an organization with a mining venture in improvement on the Arctic island, has fielded questions from tech buyers about how the U.S. buying Greenland would affect that asset and its improvement technique, CEO Tony Sage instructed CNBC. The NASDAQ-listed firm’s inventory is up 116% for the reason that begin of 2026.
The venture is within the early levels of constructing a plant to extract heavy uncommon earth components (HREE), which can be utilized to offer warmth resistance and magnetic stability in superior know-how starting from EVs to AI information heart infrastructure.
Sage stated U.S. President Donald Trump’s rhetoric about Greenland had generated further “buzz” for the venture from buyers. With out naming particular shareholders, he stated Important Metals Corp backers included those that spend money on Magnificent Seven U.S. tech corporations.
Final week, the CEO of Amaroq, a mining firm with tasks in Greenland, instructed CNBC it was having discussions with U.S. authorities our bodies about potential funding alternatives within the territory.
The White Home has stated it is “actively” discussing a possible provide to purchase Greenland, although it hasn’t dominated out army motion to amass the territory, forward of deliberate talks this week between U.S. Secretary of State Marco Rubio and Danish officers.
Mining in Greenland
Curiosity in vital minerals and uncommon earth mining in Greenland from tech buyers has picked up prior to now 12 months. In January 2025, Trump reasserted his need to amass the territory — a large, strategically-placed island with a inhabitants of simply 57,000 — forward of taking workplace.
Amaroq chief Eldur Ólafsson stated the corporate had seen a rise in consideration from buyers, together with tech buyers, over the past 12 months, in an interview with CNBC final week, as geopolitical tensions introduced provide chains for vital minerals into focus.
In November, the corporate stated that “industrial ranges” of germanium and gallium, vital minerals which are essential for constructing superior AI chips, had been current in a mining venture it owns in Greenland.
“When Trump put tariffs on China, the primary two metals China stopped exporting had been germanium and gallium,” Ólafsson instructed CNBC. “Why? Since you want it in AI, you want it in protection, you want it in tech, it is completely vital.”
China’s export ban on a number of uncommon earth minerals in 2025 highlighted to tech buyers the problem of the nation’s dominance within the area, stated Important Metals Corp’s Sage.
“The heavy uncommon earths, which embody Yttrium, Gadolinium, Terbium, Dysprosium, Holmium, Erbium, Thulium, Ytterbium, Lutetium, and Gallium are the minerals that generate probably the most curiosity,” he instructed CNBC.
“These are the supplies which are important for defence applied sciences, robotics, semiconductors and aerospace purposes. We won’t fly rockets into area, construct nuclear submarines or next-generation fighter jets with out these supplies.”
Sage added that Important Metals Corp had “sturdy relationships” with the governments of each Greenland and the U.S. and didn’t anticipate its plans to alter.
The corporate’s inventory surged 62% in a day in October after Reuters reported the U.S. Authorities was contemplating shopping for a stake. It shed the good points to complete 2025 up 2% for the 12 months.
Others are extra skeptical about whether or not Greenland’s vital and uncommon earth minerals can considerably cut back the West’s dependence on China, which produced 70% of uncommon earths in 2024, based on Statista.
“Getting uncommon earths from exploration to the mighty magnet includes 5 to 6 distinct levels — and proper now, what’s in Greenland continues to be solely within the exploration stage,” Tracy Hughes, founder and government director at business group the Important Minerals Institute, instructed CNBC.
“Uncommon earths in Greenland will not materially transfer markets within the subsequent decade,” she added.
