Rare earthsdeveloper Greenland Mineshas welcomed a landmark security agreement between the US, Denmarkand Greenland, saying it provides for a substantially expanded and enduring US security presence in Greenland while limiting the ability of US adversaries to establish military positions or make sensitive investments there.
“Greenland is becoming one of the world’s most strategically important regions and this security agreement underscores that belief,” says Greenland Minespresident Bo Møller Stensgaard.
He welcomes the governments of the US, Denmark and Greenlandadvancing a framework that strengthens security, deepens cooperation and recognises Greenland‘s importance to the future of the US and the Western alliance. “We believe that same strategic importance extends to the critical minerals required for defence, advanced technology and energy security,” Stensgaard states.
Notably, Greenland Mines‘ Sarfartoq project has the potential to supply 34% of all neodymium and praseodymium oxide currently refined outside China at 2025 consumption levels.
Greenland Mines believes its two projects can form an important part of a secure, allied critical minerals supply chain and its broader vision for a North Atlantic Critical Metals Corridor linking Greenland‘s resources with downstream processing and industrial infrastructure in allied jurisdictions.
Meanwhile, the new security agreement between the US, Denmark and Greenlandeffectively bans non-North Atlantic Treaty Organization(Nato) countries from buildingmilitary bases, among other aspects, which Nato welcomed as a step toward regional stability and Arctic defence cooperation, without compromising the Arcticterritory’s sovereignty.