Sermitsiq Moday 18th March

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"Compromise and Collaboration

"Go Thor"



Greenland's minerals

Increasing pressure from the EU and the US

The whole world is courting Greenland. Probably not because of our brown eyes, but probably more because of the country's unimaginable amount of critical minerals. The biggest and most noticeable suitors are the EU and the USA, who want to have first right to the minerals. Their courtship leads to the fact that the EU and the USA in particular are more than willing to pump money into our small coffers. But Naalakkersuisut will not give priority to anyone. This is emphasized by Naalakkersuisoq for raw materials, Naaja H. Nathanielsen (IA).

European Commission President Ursula von der Leyen paid a quick visit to Greenland on Friday. With her, she had two agreements worth just over DKK 700 million. Out of the many millions, around DKK 168 million must be used for investment in value chains for energy and critical raw materials, environmental protection and research to contribute to the diversification of Greenland's economy and the development of strategic industries such as pure hydrogen.

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JENSINE BERTHELSEN

TUSAGASSIORTOQ / JOURNALIST

MONDAY 18 MARCH 2024 17:03

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Naalakkersuisoq for raw materials, Naaja H. Nathanielsen (IA) does not shake his hands, despite the fact that the EU and the USA with great zeal and certain tones highlighted their interest in Greenland's critical minerals during the annual Canadian event "Prospectors & Developers Association of Canada" (PDAC ), during Greenland Day which was on 4 March and where she herself participated.

- We find that the EU and the USA are very aware of the minerals we have and would very much like to have access to them. For example, the EU only has 10 percent of the minerals they need. They therefore have to go out into the world and find the remaining 90 percent, and they have agreements with many countries. We are the 16th country they have entered into an agreement with. The US has supply problems with the critical minerals, so we are talking to the EU and the US, Naaja H. Nathanielsen tells Sermitsiaq.

- If they want our minerals, they must invest in the country

But the raw materials industry is a free market, where smaller and larger companies create projects that they struggle to get investors to bite on. For example, Tanbreez has an exploitation permit which has been idle for several years and is still idle as the company cannot find investors for the project.

If the EU and the US push, they can start investing in the projects, Naalakkersuisut's position is:

- What we are announcing to the EU and the USA is a call for them to invest in the projects they find interesting, because in this country we do not have the necessary financial muscle. We have no opportunity to develop infrastructure in the rural areas where the projects are located, just as we cannot invest directly from the national treasury for the projects, so we can only encourage the EU and the USA in particular to gather their strength and take part in the projects in Greenland, points out Nathanielsen.

No one gets the first right to Greenland's minerals

But now, when the USA and especially the EU are giving Greenland several hundreds of millions of kroner, one would be led to believe that they will get the first right to the much sought-after minerals. But no one gets the first right to Greenland's natural wealth:

- No! we don't go out and promise anything to anyone, and no one gets priority. But we are open to making agreements with the countries, for example we have an agreement with the USA that they must help finance the covering of the underground, and this gives them access to data. But we don't go out and promise licenses. There you have to follow the legislation we have in this country, emphasizes Naalakkersuisoq for raw materials, Naaja H. Nathanielsen (IA).

In addition, Greenland and the EU have a " Memorandum of Agreement on critical raw materials ", which was signed in November 2023. The agreement reflects the joint commitment to sustainable resource development and positions Greenland as a strategic supplier of raw materials for Europe's green transition. Naaja H. Nathanielsen has confirmed to Sermitsiaq that a roadmap to realize the agreement will be presented in the near future.