Greenland considers China for investment as global dynamics shift

(MENAFN) Greenland is exploring the option of welcoming Chinese investments to boost its mining industry, especially as tensions with the United States escalate and engagement with the European Union remains limited. This was revealed by the island’s minister responsible for business and mineral resources.

As a self-governing Danish territory, Greenland possesses significant but challenging mineral deposits, including gold and copper. Developing these resources relies heavily on foreign investment, yet geopolitical frictions have complicated efforts to find reliable partners.

The minister commented, “we are trying to figure out what the new world order looks like,” highlighting the island’s struggle to establish its position amid changing alliances with Western nations.

During Donald Trump’s first term, the Arctic territory entered into a mineral development agreement with the United States. However, the deal is now approaching its conclusion. Greenland’s government attempted to renew the arrangement during Joe Biden’s presidency, but those efforts did not succeed.

The minister described these remarks as “disrespectful and distasteful,” emphasizing that Greenland “has no wish to be American.”

Meanwhile, China has expressed interest in the Arctic region’s mineral and energy resources, including oil, gas, and various minerals. It has made investments in Russian energy ventures and shown an appetite for Greenland’s mining sector. Although no Chinese firms currently operate active mining projects on the island, as one holds a minority share in a dormant project.

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