Greenland’s riches are real – but years away

Greenland, an autonomous territory within the Kingdom of Denmark since 2009, spans vast territory yet is home to just 56 000 people, making it the least densely populated country in the world. Roughly 80% of the island is covered by permanent ice, with most residents clustered along the southwestern coast. Its geopolitical significance derives from its position at the crossroads of North America, Europe, and the Arctic Ocean. Greenland anchors the western edge of the GIUK Gap (Greenland-Iceland-United Kingdom), a critical NATO maritime chokepoint historically used to monitor Soviet, and now Russian and Chinese, naval activity between the Arctic and Atlantic. The US maintains Pituffik Space Base (formerly Thule Air Base), a cornerstone of missile warning, missile defence, and polar satellite surveillance. The 1951 US-Danish Defence Agreement, amended in 2004, provides the framework for this presence. As Arctic sea ice recedes, emerging shipping routes, including the Northwest Passage and potential Trans-Arctic corridors, may significantly shorten transit times between major markets, enhancing Greenland’s economic and military relevance.

Vast rare earth reserves beneath the ice

Beneath the ice lies substantial mineral wealth. The U.S. Geological Survey estimates 1.5 million t of proven rare earth element (REE) reserves, ranking Greenland eighth globally. More significantly, the island hosts world-class deposits. Kvanefjeld contains over 11 million t of REE reserves and resources, including approximately 370 000 t of heavy rare earths. Tanbreez may represent the world’s largest REE resource at 28.2 million t, with an unusually high proportion of heavy rare earths – over 27%, versus typical global averages of 5-10%. These elements, including dysprosium, neodymium, terbium, and gadolinium are essential for permanent magnets used in electric vehicles, wind turbines, defence systems, and advanced electronics.

Formidable barriers to production

Beyond REEs, Greenland hosts 25 of the EU’s 34 critical minerals and 43 of 50 minerals deemed critical to US national security, along with significant graphite, lithium, copper, zinc, gold, uranium, and an estimated 31 billion barrels of oil-equivalent hydrocarbons. Yet, as of February 2026, Greenland has zero commercial rare earth production. Structural barriers are formidable: pervasive ice cover, no existing mining infrastructure, extreme Arctic conditions, lack of power grids and ports, and high logistics costs. Kvanefjeld, explored since 2007 and studied in depth by 2015, was halted in 2021 following a uranium mining ban driven by environmental concerns. Tanbreez only completed its preliminary economic assessment in 2025 and remains years from production. Even under favourable conditions, meaningful output is likely a decade away or more. Mining projects in well-developed jurisdictions routinely require 7 – 15 years from discovery to production; Greenland starts from a near-zero infrastructure baseline.

Long-term vision vs. near-term pragmatism

While Greenland’s long-term potential is undeniable, it is not a near-term solution to Chinese supply-chain dominance. China currently controls approximately 95% of manganese processing, 65% of cobalt processing, and 35% of nickel processing globally representing an immediate national security vulnerability. Addressing this risk requires projects capable of delivering production within years, not decades. Several US-based or allied-jurisdiction companies have advanced critical minerals projects constrained primarily by capital and permitting rather than geology. Examples include The Metals Company (polymetallic nodules), Westwater Resources (graphite), and 5E Advanced Materials (boron and associated minerals). Domestic rare earth, lithium, and graphite projects similarly stand closer to commercial readiness.

In summary, Greenland represents a long-term strategic asset requiring sustained diplomatic and infrastructure investment. Simultaneously, the US must accelerate domestic and allied critical minerals development through streamlined permitting, capital support, and regulatory certainty. Greenland embodies strategic vision; near-term US projects embody operational pragmatism. National security demands both. 

Author note

Read the article online at: https://www.globalminingreview.com/mining/10032026/greenlands-riches-are-real-but-years-away/