Greenland signs juicy deal with Europe in a blow to Trump

Greenland has granted a 30-year mining license to a Franco-Danish consortium to extract anorthosite, a rock used in aluminum production, from Arctic territory.

The license was awarded to Greenland Anorthosite Mining (GAM), a company backed by the French Jean Boulle Group and several Danish and Greenlandic real estate investment firms, according to Reuters.

This commercial agreement comes amid renewed interest from the United States, with Donald Trump having previously expressed a desire to acquire Greenland due to its vast mineral resources, including oil and gas. 

However, while Washington has shown strong interest, Greenland’s Minister of Mineral Resources, Naaja Nathanielsen, said no concrete U.S. investment proposals have been submitted, unlike those from Europe.

“We have welcomed a number of investors, but we have not yet seen any concrete example of American funds being injected into Greenland's business community,” Nathanielsen said.

The White House is seeking long-term trade partnerships with Greenland, but Greenlandic legislation currently prohibits such arrangements.

(QG - Source: Newsweek  — Picture : © Unsplash)