The outgoing administration of U.S. President Joe Biden is intensifying its efforts to attract mining and other investments in Greenland, aiming to solidify critical minerals diplomacy and enhance Western access to materials essential for the energy transition.
As the Biden presidency nears its conclusion, officials have taken several steps to secure their legacy, including support for Ukraine, expedited U.S. mining permits, and incentives for resource development.
Jose Fernandez, the U.S. State Department’s Under Secretary for Economic Growth, Energy, and the Environment, spent four days in Nuuk, Greenland, last week meeting with the Ministry of Foreign Affairs and the Mineral Resource Authority. y
Greenland, an autonomous territory of Denmark, holds vast deposits of critical minerals identified by the U.S. Geological Survey.
“This was an effort to showcase the opportunities Greenland offers to investors,” Fernandez told Reuters. “Greenland aims to become the next mining frontier.”
Fernandez’s visit culminated in an eight-hour conference call with over 70 mining companies and potential investors from Japan, Europe, and the United States.
Diplomats from Australia, the U.K., the EU, and representatives from financial institutions such as the U.S. Export-Import Bank and the European Investment Bank participated.
The discussion centered on seven key projects, including a rare earths initiative by Neo Performance Materials, a nickel project by Anglo American, and a molybdenum project by Greenland Resources.
Greenland’s Minister for Industry, Trade, Minerals, Justice, and Gender Equality, Naaja Nathanielsen, emphasized the country’s commitment to global collaboration.
“We view the development of critical minerals as a shared global responsibility, and Greenland can play a leading role,” she stated.
The State Department has been actively assisting Greenland in drafting mining investment legislation, offering regulatory guidance, and supporting standards surpassing those of Chinese-linked competitors.
“Yes, we seek Greenland’s critical minerals for our economy, but not at their expense,” Fernandez noted, highlighting a commitment to sustainable and ethical resource development.
Although incoming President-elect Donald Trump unsuccessfully attempted to purchase Greenland during his first term, Fernandez expressed confidence in Greenland’s strategic importance.
“While I cannot predict what the next administration will do, the demand for critical minerals is rising exponentially, and the business case for Greenland remains strong,” he said.
As the Biden administration prepares to exit, this last push underscores Greenland’s role as a pivotal player in the global race for critical minerals necessary for the energy transition.
