President Donald Trump’s idea to buy Greenland may be fantasy, but the US has staked an interest in the island’s resources — in particular, its rare earth minerals.
The US recently signed a memorandum to co-operate with the autonomous territory on rare earth mining in order to promote investment in the sector, amid wider efforts to secure alternative supplies after China hinted that it could constrict exports to the US.
Greenland is estimated to hold 38.5m tonnes of rare earth oxides, while total reserves for the rest of the world stand at 120m tonnes.
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