Blow to Trump's ambitions: Greenland granted a 30-year license for aluminum deposit to Europeans
Kyiv • UNN
The government of Greenland has granted a 30-year license for the development of an aluminum-bearing deposit to a consortium involving a French company and investment funds from Denmark and Greenland. Extraction will begin in 5 years.
On May 21, the Greenlandic authorities granted a 30-year permit for the development of anorthosite at the aluminum-bearing deposit of Greenland Anorthosite Mining (GAM), a consortium involving the French Jean Boulle Group and investment funds from Denmark and Greenland. This is reported by UNN with reference to Newsweek.
Details
The decision to grant a license to develop a promising aluminum deposit to the European consortium GAM is a blow to the ambitions of US President Donald Trump, who has repeatedly stated his confidence in the annexation of Greenland, and that he "does not rule out" the use of military force to control Greenland.
Greenland's Minister of Mineral Resources Naaja Nathanielsen noted that, despite the repeated interest of the United States in the region, this has not translated into real investment.
Now all this hype has not led to an increase in appetite for investment directly in Greenland. We have had contacts with a number of investors, but so far we have not seen any concrete example of American funds flowing into the Greenlandic business community.
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She also noted that mining at the Greenland aluminum deposit will begin in 5 years.
I hope the mine will be operational in five years.
Additionally
Greenland's mining industry is still developing slowly: only two small mines are currently operating on the island. The mineral extraction permit granted to the international consortium on May 21 could give impetus to its revitalization against the background of geopolitical interest in the resources of the Arctic.
Reference
Anorthosite is a white rock containing aluminum, microsilica and calcium. It can become an environmentally friendly alternative to traditional materials used in aluminum production. It is planned to be exported to the fiberglass industry as a substitute for kaolin.
Recall
Donald Trump first expressed his interest in acquiring Greenland back in 2019, when he became President of the United States.
In March of this year, US Vice President Jay Dee Vance, during a visit to Greenland, stated that the country is an important part of the security not only of the United States, but of the whole world, stressing that military force will not be needed to seize the island.
In May, the US stepped up intelligence gathering on Greenland to get more information about the independence movement and resource extraction. At that time, Trump did not rule out seizing the island by force.
In January of this year, Greenland's Prime Minister Mute Egede announced that Greenland wants to be an independent state.