Inside the race for Greenland's mineral wealth

Published On Jan 26, 2025, 7:01 PM

Eldur Olafsson, CEO of Amaroq Minerals, highlights Greenland's significant untapped mineral resources, including gold, copper, nickel, and rare earth elements. The firm is ramping up gold production at its recently acquired mine and believes Greenland could supply vital minerals to the West for decades, especially amid geopolitical tensions with China. Despite this potential, mining operations face challenges including high costs, environmental red tape, and infrastructure issues, contributing to a slow realization of this 'gold rush.' Greenland relies heavily on subsidies from Denmark and seeks to attract foreign investment to grow its mining sector.