Tech buyers are sounding out how the U.S. taking Greenland would have an effect on the viability of crucial and uncommon earth minerals mining there, CNBC has discovered, as Washington ramps up its pursuit of the Arctic island.
Greenland has discovered itself on the middle 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. Industrial alternatives have additionally come into the highlight.
Prior to now week, Important Metals Corp, an organization with a mining mission in growth on the Arctic island, has fielded questions from tech buyers about how the U.S. buying Greenland would affect that asset and its growth technique, CEO Tony Sage informed CNBC. The NASDAQ-listed firm’s inventory is up 116% for the reason that begin of 2026.
The mission is within the early phases of constructing a plant to extract heavy uncommon earth parts (HREE), which can be utilized to supply warmth resistance and magnetic stability in superior expertise starting from EVs to AI information middle infrastructure.
Sage stated U.S. President Donald Trump’s rhetoric about Greenland had generated extra “buzz” for the mission from buyers. With out naming particular shareholders, he stated Important Metals Corp backers included those that spend money on Magnificent Seven U.S. tech firms.
Final week, the CEO of Amaroq, a mining firm with initiatives in Greenland, informed 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 accumulate the territory, forward of deliberate talks this week between U.S. Secretary of State Marco Rubio and Danish officers.
Mining in Greenland
Curiosity in crucial minerals and uncommon earth mining in Greenland from tech buyers has picked up previously yr. In January 2025, Trump reasserted his need to accumulate the territory — an enormous, 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 crucial minerals into focus.
In November, the corporate stated that “industrial ranges” of germanium and gallium, crucial minerals which are essential for constructing superior AI chips, had been current in a mining mission it owns in Greenland.
“When Trump put tariffs on China, the primary two metals China stopped exporting had been germanium and gallium,” Ólafsson informed CNBC. “Why? Since you want it in AI, you want it in protection, you want it in tech, it is completely crucial.”
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 embrace Yttrium, Gadolinium, Terbium, Dysprosium, Holmium, Erbium, Thulium, Ytterbium, Lutetium, and Gallium are the minerals that generate essentially the most curiosity,” he informed CNBC.
“These are the supplies which are important for defence applied sciences, robotics, semiconductors and aerospace functions. 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 “robust relationships” with the governments of each Greenland and the U.S. and didn’t anticipate its plans to vary.
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 yr.
Others are extra skeptical about whether or not Greenland’s crucial and uncommon earth minerals can considerably cut back the West’s dependence on China, which produced 70% of uncommon earths in 2024, in keeping with Statista.
“Getting uncommon earths from exploration to the mighty magnet entails 5 to 6 distinct phases — and proper now, what’s in Greenland remains to be solely within the exploration stage,” Tracy Hughes, founder and govt director at trade group the Important Minerals Institute, informed CNBC.
“Uncommon earths in Greenland will not materially transfer markets within the subsequent decade,” she added.
