The world’s largest island has interesting mineral wealth, but it can become a curse for it. These are mainly magnetic ores, which are used in the production of wind turbines and electric cars or aircraft.
Although these minerals are not among the rarest, they are quite abundant around the world. However, the stumbling block is their extraction and processing, which are a serious source of environmental pollution. The United States had previously dominated the production of these raw materials, but it was precise because of the negative environmental impacts that it was restricted. About two decades ago, China replaced them at the top.
But as climate change progresses, Greenland’s land is becoming increasingly accessible and mineral extraction easier. Thus, not only the United States is interested in the territory (former President Trump even wanted to buy Greenland from Denmark), but also China or Australia.
Meanwhile, in addition to administrative obstacles, the increased expansion of mining is also hampered by the still relatively high cost of building the mines concerned. One would cost about $500 million, according to estimates by various mining companies. Its profitability would thus depend on the volume of mineral extracted. The not-so-good news for Greenland is that ore should be taken away and processed elsewhere. But this may not hinder the great powers’ efforts.
