President Trump said Wednesday that he's reached the framework of a deal with NATO on the future of Greenland after escalating rhetoric in recent days about acquiring the island.
While Trump also recently said, "We need Greenland for national security, not minerals," some of his allies are eyeing both the territory's location and its natural resources.
"Greenland has massive rare earth minerals and critical minerals. There are enormous economic benefits to America," Sen. Ted Cruz (R-Texas) said on Fox News's "Sunday Morning Futures With Maria Bartiromo" over the weekend.
Greenland has significant quantities of rare earth elements — minerals that can be used in various technologies, including semiconductors, batteries, lasers, magnets and nuclear energy. Ultimately, such technologies can be used in everything from data centers to military weapons to renewable power and electric vehicles.
But there could be hurdles in getting to them.
"Greenland is large. Some of these mining sites are quite remote. They require people with specialized skills … to access these minerals, and most of these places are not settled and not near places where people live," said Penny Naas, senior vice president for innovation and competitiveness at the German Marshall Fund of the United States, a think tank that promotes transatlantic cooperation.
"There's still … other places around the world that are easier to mine" Naas added, also noting that mining in Greenland often faces local opposition.
And, she said, an American takeover may not actually yield different results for companies than just working with existing authorities.
"Greenland is relatively open on investment," Naas said. "In general, right now the U.S. could go in and mine in Greenland as is."
Read more at TheHill.com.
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