(MENAFN) Greenland is contemplating the option of welcoming Chinese investment to advance its mining industry due to strained relations with the United States and limited collaboration with the European Union, according to Naaja Nathanielsen, the island’s minister for business and mineral resources, who shared this with a news agency on Tuesday.

As a self-governing territory under Denmark, Greenland possesses abundant yet challenging-to-extract mineral reserves such as gold and copper.

Attracting foreign capital is crucial for unlocking these resources; however, recent geopolitical frictions have complicated efforts to establish dependable international partnerships.

“We are trying to figure out what the new world order looks like,” Nathanielsen remarked, emphasizing that Greenland is “having a difficult time finding [its] footing” amid shifting dynamics with its Western allies.

During Donald Trump’s initial presidency, the Arctic island signed a memorandum of understanding with the US focused on mineral development. Nathanielsen noted that this agreement is now nearing its conclusion.

The government in Nuuk attempted to renew the deal during Joe Biden’s administration but was unsuccessful.

When Trump resumed office in January, Greenland anticipated reviving talks to extend the memorandum.

Instead, the US president raised the prospect of purchasing the island and declined to dismiss the possibility of employing military force to assert US sovereignty over Greenland.

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