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PortuguêsGreenland warns it may seek Chinese investment if the US and EU do not engage in its mining sector, highlighting political and economic challenges.
Greenland is urging American and European investors to expedite investments in its mining sector. If they fail to do so, the island may seek support from other parties, including China. This statement comes from Naaja Nathanielsen, Greenland's Minister of Housing, Infrastructure, Minerals, and Gender Equality.
'We aim to develop and diversify our business sector, which requires foreign investments,' Nathanielsen told the Financial Times. The autonomous Danish region prefers collaboration with European and American partners, 'but if they do not show up, we must look elsewhere.'
The current memorandum of understanding with the US on mineral development, signed during Trump's first term, is expiring. Greenland has been unable to renew it under President Biden.
Despite Trump's rhetoric, Nathanielsen notes little concrete interest from China in mining projects. Currently, only two Chinese mining companies operate on the island. Chinese investors may be avoiding political tensions, she speculates.
Greenland has also issued its first mining permit under a new law, allowing a Danish-French consortium to extract anorthosite, a mineral used in fiberglass.
