US and Denmark lobbied for Greenland’s largest rare earths deposit not to be sold to China

Reuters have the report that U.S. and Danish officials lobbied the developer of Greenland’s largest rare earths deposit last year not to sell its project to Chinese-linked firms. Little wonder Trump is keen on getting more US control over the island.

Reuters report is here:

• US lobbied Greenland rare earths developer Tanbreez not to sell to China

In brief:

• Officials urged Tanbreez Mining, the developer of Greenland’s largest rare earths deposit, not to sell to Chinese-linked firms due to strategic concerns over China’s dominance in rare earths.

• Tanbreez was sold to U.S.-based Critical Metals for $5 million cash and $211 million in stock, far less than Chinese firms offered.

• Rare earths are critical for high-tech industries, including defense and electric vehicles. The Tanbreez deposit contains eudialyte with about 30% heavy rare earths and gallium, which is vital for defense applications.

• Tanbreez aims to mine 500,000 metric tons annually by 2026.

• • Critical Metals has applied for U.S. Department of Defense funding to develop a rare earth processing facility.
  • The company is in supply talks with defense contractors like Lockheed Martin, RTX, and Boeing.

• Other Greenland Projects:

  • Chinese-linked projects, like Energy Transition Minerals’ rare earth venture, face legal disputes.
  • Other Western companies (e.g., Neo Performance Materials and Anglo American) are exploring opportunities in Greenland.

• Geopolitical Context:

  • Greenland is open to U.S. investments but rejects the notion of being “for sale.”
  • The U.S. has had more success in Greenland than in Africa in reducing China’s grip on critical minerals.

This article was written by Eamonn Sheridan at www.forexlive.com.