Finance
Factbox-Greenland's rich but largely untapped mineral resources
Published by Global Banking & Finance Review®
Posted on January 14, 2026
3 min readLast updated: January 19, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 14, 2026
3 min readLast updated: January 19, 2026
Greenland's mineral wealth includes rare earths, graphite, and copper. Despite potential, development faces environmental and regulatory challenges.
Jan 14 (Reuters) - The foreign ministers of Denmark and Greenland meet U.S. Vice President JD Vance and Secretary of State Marco Rubio on Wednesday, after President Donald Trump recently stepped up threats to take over the autonomous territory of Denmark.
Greenland could be useful for the United States because of its strategic location and rich mineral resources. A 2023 survey showed that 25 of 34 minerals deemed "critical raw materials" by the European Commission were found there.
Extracting oil and natural gas is banned in Greenland for environmental reasons, while the development of mining has been snarled in red tape and opposition from indigenous people.
Below are details of Greenland's main mineral deposits, based on data from its Mineral Resources Authority:
RARE EARTHS
Three of Greenland's biggest deposits of rare-earth element -- key to permanent magnets used in electric vehicles (EV) and wind turbines -- are located in the southern province of Gardar.
Companies seeking to develop rare-earth mines are Critical Metals Corp, which bought the Tanbreez deposit, Energy Transition Minerals, whose Kuannersuit project is stalled amid legal disputes, and Neo Performance Materials.
GRAPHITE
Graphite, mostly used in EV batteries and steelmaking, and graphite schist are reported at many locations the island.
GreenRoc has applied for an exploitation license to develop the Amitsoq graphite project.
COPPER
The Mineral Resources Authority says most copper deposits have drawn only limited exploration campaigns.
Especially interesting are the underexplored areas in the northeast and centre-east of Greenland, it said.
London-listed 80 Mile is seeking to develop the Disko-Nuussuaq deposit, which has copper, nickel, platinum and cobalt.
NICKEL
Traces of nickel accumulations are numerous, according to the Mineral Resources Authority.
Anglo American was granted an exploration licence in western Greenland in 2019 and has been looking for nickel deposits, among others.
ZINC
Zinc is mostly found in the north in a geologic formation that stretches more than 2,500 km (1,550 miles).
Companies have sought to develop the Citronen Fjord zinc and lead project, which had been billed as one of the world's largest undeveloped zinc resources.
GOLD
The most prospective areas for gold potential are around the Sermiligaarsuk fjord in the south of Greenland.
Amaroq Minerals launched a gold mine last year in Mt Nalunaq in the Kujalleq Municipality.
DIAMONDS
While most small diamonds and the largest stones are found in the west, their presence in other parts of the island may also be significant.
IRON ORE
Deposits are located at Isua in southern West Greenland, at Itilliarsuk in central West Greenland and in North West Greenland along the Lauge Koch Kyst.
TITANIUM-VANADIUM
Known deposits of titanium and vanadium are in the southwest, the east and south.
Titanium is used for commercial, medical and industrial purposes, while vanadium is mainly used to produce specialty steel alloys. The most important industrial vanadium compound, vanadium pentoxide, is used as a catalyst for the production of sulfuric acid.
TUNGSTEN
Used for several industrial applications, tungsten is mostly found in the central-east and northeast of the country, with assessed deposits in the south and west.
URANIUM
The then-ruling left-wing Inuit Ataqatigiit party banned uranium mining in 2021, effectively halting development of the Kuannersuit rare-earths project, which has uranium as a byproduct.
(Compiled by Elviira Luoma and Alessandro Parodi; editing by Varun H K, Mark Heinrich and Alexander Smith)
Rare earths are a group of 17 elements that are essential in the production of high-tech devices, including electric vehicles and wind turbines. They are critical for modern technology and are primarily sourced from specific regions.
Graphite is primarily used in the production of batteries for electric vehicles and in steelmaking. It is a crucial material for various industrial applications due to its conductivity and lubricating properties.
Copper is a metal used extensively in electrical wiring, plumbing, and construction. It is valued for its electrical conductivity and resistance to corrosion, making it essential in various industries.
Uranium is a heavy metal used as fuel in nuclear reactors. It is also a key component in the production of nuclear weapons. Its mining and use are often subject to strict regulations.
Explore more articles in the Finance category
