Extract From Article11 Jan 2026 12:08
One major player is Amaroq, a Greenlandic, Toronto-based mining company which has operated the Nalunaq gold mine, in the south of the country, for ten years. It is already drilling in six areas for nickel, copper, gold and rare-earth minerals — and is set to build another gold mine. By 2027 it expects to become Greenland’s biggest taxpayer.
“Donald Trump really increased a lot of awareness [about] Greenland and rare earths and strategic minerals,” said Eldur Olafsson, the chief executive of Amaroq, speaking on Zoom from his home in Iceland. “We started ten years ago as a $50 million company, raising $7 million. And since then we have raised $250 million.” Much of this, he said, has come from US investors, who, like Trump, want a slice of Greenland. He said the country has “a great opportunity” to develop critical minerals.
He said he believes that a US takeover is “so far away”, but added: “I do believe that US and Denmark, as well as Greenland, can come up with an agreement where security concerns and investment agreement from a US side can be delivered. And then Denmark can continue to invest and strengthen their part by making Greenland independent.”