The U.S. government is considering investing in the company’s major mining projects in Greenland, its CEO told CNBC. high stakes negotiations Between Washington and Danish officials regarding the future of the island.
The projects are managed by the mining company Wolfit operates in South Greenland and is involved in the mining or exploration of gold, copper, germanium and gallium, among other important mineral deposits.
Discussions with American government authorities about potential investment opportunities are ongoing and not complete, Amaroq CEO Eldur Ólafsson told CNBC.
The deals could include “transfer agreements, infrastructure support and lines of credit,” Olafsson added, but he declined to comment on what specific projects the US government was interested in.
When asked for comment, a US State Department spokesperson told CNBC: “The United States is committed to building long-term commercial relationships that benefit the American people and the people of Greenland.
“President Trump reiterated Greenland’s importance to US defense and underscored his commitment to the relationship by appointing Governor Landry as Special Envoy to Greenland.”
CNBC reached out to the Export-Import Bank of the United States (EXIM) for comment, but did not receive a response as this article was published live.
Olafsson’s comments refer to US President Donald Trump enhances the conversation On Saturday, after a major military operation to oust Venezuelan President Nicolas Maduro, it is about buying Greenland, which he considers an integral part of national security.
There were European countries tension responding to US rhetoric on Greenland that has refused to rule out military action.
US Secretary of State Marco Rubio will meet with Danish officials next week to discuss the Greenland issue. a self-governing Danish territory.
Important minerals of Greenland
The White House is eyeing the Greenland deposits as a potential way to break China’s dominance in the critical minerals space.
Rare earth companies with projects on the Arctic island rose Earlier this week, about the US comments on the acquisition of the Arctic island.
In recent days, Trump has mostly focused on national security when discussing Greenland, but former national security adviser Mike Waltz spoke to Fox News in January 2025 about US interest in the island. “Critical Minerals.”
Some experts have warned that extracting important minerals from Greenland is economically unviable due to the harsh conditions and lack of infrastructure, but Ólafsson told CNBC that with the right planning and logistics, that could become a reality.
He compared the process to important mineral mines in Russia and Alaska, which he said were built under similar conditions.
He said “one of the biggest challenges in any mining project is usually some of the (mineral transport) long distances overland,” but added that many of Greenland’s mineral deposits are close to “deep fjords,” meaning they would be easier to transport..
There is climate change converted In parts of Greenland, the ice is melting, revealing wetlands, scrubland, and barren rock.
This made some of the island’s strategic minerals available to mining firms.