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Trump Wants Greenland's Resources: Here's What It Would Take To Actually Mine Them

By Meg Flippin, Benzinga

DETROIT, MICHIGAN - October 21, 2026 - Greenland is on President Donald Trump’s mind again, and for good reason: the country is rich in rare earth elements and critical minerals necessary to power the world’s AI data centers, electric vehicles and defense systems. 

Those rare earth elements and critical minerals happen to be in demand and, outside of China and Russia, in short supply, which is why the White House is so interested in Greenland. 

Early in Trump’s presidency, he signaled his interest in controlling the island to get his hands on its vast, untapped natural resources. That took a back seat to other pressing domestic and foreign policy issues, but in recent weeks, the President has signaled his renewed interest. In late September, Trump announced a new deal aimed at expanding America’s ability to explore for energy and minerals in the Arctic region. The deal strengthens security between the U.S., Denmark and Greenland, and while it doesn’t give the U.S. any special exploration rights, it does put limits on investments by non-NATO countries in certain sectors deemed strategic. Fast forward to October and Trump said on Truth Social that “massive” oil, gas and mineral exploration is set to get underway in Greenland, although the President was scant on details. 

Tough Slogging Ahead 

While the optimism on the part of Trump can be applauded, it’s also understandable if it’s met with a level of skepticism. While Greenland is rich in rare earth elements and critical minerals, extracting them has long proved difficult. For starters, there’s the climate in Greenland that makes exploration difficult. After all, it's a harsh environment defined by freezing temperatures, thick ice sheets, deep winter darkness and extremely short operating seasons. Then there is a lack of infrastructure, which poses another challenge. Greenland doesn’t have many paved roads or connections between towns and settlements. Nor is there a national power grid, which means any commercial mining project has to be built from scratch. It also doesn’t help that Greenland banned new oil and gas exploration in 2021, along with a strict ban on uranium mining that halted major rare earth projects due to radioactive byproducts.

The challenges are formidable but not insurmountable. To move from exploration to commercial production requires substantial capital investment, specialized cold-weather engineering infrastructure and close cooperation with local authorities and communities. One company that checks off those boxes is Greenland Mines Ltd. (NASDAQ: GRML), the resource development and mining company focused on the advancement of two mining projects in Greenland - the Skaergaard Project in southeast Greenland and the Sarfartoq neodymium-praseodymium rare earths project in southwest Greenland. 

Greenland Mines’ Home Team Advantage 

Take Greenland Mines’ flagship Skaergaard deposit, which is located in southeast Greenland, which it says is one of the world's largest undeveloped deposits of palladium, gold and platinum. The company recently completed a more than two-month 2026 field program that included 4,480 meters of diamond drilling across 17 holes. The work is intended to advance Skaergaard toward metallurgical flowsheet development, mine and infrastructure planning, resource evaluation, environmental studies and preparation of an Initial Assessment. 

Then there’s Greenland Mines’ newly acquired Sarfartoq project, which is targeting neodymium and praseodymium, rare earth metals used in high-performance magnets, electric vehicle motors and wind turbines. The project is located in southwest Greenland, approximately 60 kilometres from Kangerlussuaq airport and near sheltered coastal fjord access.  That is logistically beneficial because it's close to shipping ports and an airport, which may lower infrastructure costs compared to inland Arctic mining projects. Unlike other high-profile rare earth deposits in Greenland that have been hurt by naturally occurring radioactive elements, Sarfartoq’s mineral profile does not produce uranium byproducts, reports the company. 

What’s more, an independent Initial Assessment reported a high-case sensitivity of approximately $2.05 billion pre-tax NPV at an 8% real discount rate. This scenario assumes a 15% higher basket price, 15% lower operating costs and 20% lower capital costs than the base case. The assessment is preliminary, includes Inferred Mineral Resources and does not establish Mineral Reserves or guarantee economic viability. All told, Greenland Mines holds two assets that give it the potential to become a serious player in the Arctic mining sector.

President Trump is paying attention to Greenland again at a time when the world needs more rare earth elements and critical minerals. Extracting them from the harsh terrain of Greenland isn’t going to be easy, but Greenland Mines seems up to the task. It has the strategic mineral deposit projects and regional access ready for the next developments. To learn more about its two Arctic projects, click here.

Featured image from Shutterstock.

This content was originally published on Benzinga. Read further disclosures here.

This post contains sponsored content and was created in collaboration with a third-party partner. Benzinga is a publisher and does not provide personalized investment advice or act as a broker or dealer. This content is for informational purposes only and is not intended to be investing advice or an offer or solicitation to buy or sell any security. 

Greenland Mines’ projects remain at the exploration and development stage and are not in production. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. Sarfartoq’s Initial Assessment is preliminary and includes Inferred Mineral Resources; there is no certainty that its results will be realized. Further studies, permitting, financing and development work are required, and neither project is assured of reaching production.

Forward-looking statements: Plans and expectations are subject to exploration, metallurgical, permitting, financing and execution risks; actual results may differ materially. See Greenland Mines’ SEC filings and relevant Technical Report Summaries for assumptions, limitations and risk factors.