Minerals, mines, hydrocarbons: Greenland’s key but limited resources
By AFP
March 6, 2025

Greenland holds untapped mineral and oil reserves - Copyright AFP/File Olivier MORIN
Luca MATTEUCCI
The vast autonomous Danish territory of Greenland, coveted by US President Donald Trump, is believed to hold untapped mineral and oil reserves, but on a global scale these amounts are modest and offer only minor potential for exploitation.
– Rare earths –
Greenland’s rare earths are estimated at 36.1 billion tonnes by the Geological Survey of Denmark and Greenland (GEUS).
Demand for these 17 metals vital for the tech industry is expected to surge in the future, and they are also needed for drones, wind turbines, hard drives, electric cars, telescope lenses and fighter jets.
But the territory’s rare earths reserves — that is those that are economically and technically recoverable — amount to about 1.5 million tonnes, according to the latest report from the US Geological Survey (USGS).
This is modest compared to the reserves held by China (44 million tonnes) or Brazil (21 million tonnes), but sufficient enough to attract manufacturers looking to diversify from China’s dominance over supply.
– Lithium, graphite, uranium –
According to GEUS, Greenland’s soils also contain graphite, lithium, and copper, three minerals defined by the International Energy Agency (IEA) as critical for the energy transition.
The National Geological Survey has estimated graphite resources in Greenland at six million tons, or 0.75 percent of the global total calculated by USGS.
According to a May 2024 IEA report, China “dominates the entire production chain” of this mineral, which is used in both batteries and the nuclear industry.
For lithium, also a component in batteries and whose demand the IEA says could increase eightfold by 2040, Greenland’s resources have been estimated at 235,000 tonnes, or 0.20 percent of the global figure.
Greenland’s copper resources meanwhile are insignificant on a global scale, but its uranium reserves, a coveted nuclear fuel, could be of greater strategic interest. However, its exploitation on the island has been banned since 2021.
– One active mine, one restarting –
There is only one operational mine in Greenland — an anorthosite deposit on the west coast of the territory run by Lumina Sustainable Materials.
Production there is very limited and activity intermittent, with its ownership having changed many times over the years.
The Nalunaq gold mine on the south of the island, owned by the Canadian company Amaroq Minerals, is in a restarting phase.
“Several other projects are under development and some of these have been advanced to a feasibility stage and have been granted exploitation licences,” Jakob Klove Keiding, senior consultant at GEUS told AFP.
But, he added, these “still need significant additional investments and the final approvals to go into production.”
The European Union, which identified 25 of the 34 minerals on its official list of critical raw materials in Greenland, signed a memorandum of understanding with Greenland’s government in 2023 supporting the development of the island’s mineral resources.
This strategic partnership could offer new prospects in maritime transport and resource exploration, with the Arctic warming up four times faster than the rest of the world.
– Hydrocarbons –
The island could also hold hydrocarbons roughly equivalent to 28.43 billion barrels of oil, according to GEUS, Greenland’s National Oil Company (Nunaoil), and Greenland’s Mineral Resources Authority, based on industry data.
Although seemingly abundant, this has to be put in context. No industrial drilling for oil or gas has ever been exploited in Greenland, although three oil exploration licenses are active in the east of the territory.
The US, for example, consumed 7.39 billion barrels of petrol in 2023 alone, according to the US Energy Information Administration.
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Ukraine titanium mine hopes US deal will bring funds
By AFP
March 6, 2025

Workers operate machinery at an open-pit titanium mine in central Ukraine - Copyright AFP I-Hwa CHENG
Ania TSOUKANOVA
In a barren, yellow-and-grey moonscape, heavy machinery grinds away at a titanium mine in the heart of Ukraine.
Despite tensions between Ukraine and the United States, hopes are high that the two countries can strike a minerals deal that would bring much-needed investment.
“Ukraine is very rich in mineral resources and if we do not extract them, Ukraine will simply lose out on revenues that it could have obtained,” said Dmytro Golik, head of the mine operator.
Located in the Zhytomyr region in the western part of central Ukraine, the mine contains ilmenite, a titanium-iron oxide mineral which is widely used for pigments.
US President Donald Trump wants a share in revenues from Ukraine’s mineral wealth as compensation for the military and financial aid Washington has poured into Ukraine since the start of Russia’s invasion more than three years ago.
Ukraine, which has around five percent of global mineral resources, is the 11th biggest titanium producer in the world, according to World Mining Data.
Its mineral reserves could contain around 185 million tonnes of titanium, including as much as 65 million tonnes in the Zhytomyr region alone, Golik said.
– Fraught negotiations –
A Ukraine-US deal on minerals was due to have been signed at the White House last week, but the event was called off after a spectacular televised clash between Trump and Ukrainian President Volodymyr Zelensky.
Even before the meltdown in Washington, negotiations on the document were fraught.
Zelensky rejected several versions, pointing to the risk of plunging “10 generations of Ukrainians” into debt.
Kyiv and Washington finally agreed on a framework agreement for the creation of a joint fund that would handle part of the revenues from Ukrainian mineral extraction.
In the last few days, Ukrainian and US officials have signalled a readiness to sign the agreement soon, but no date has been fixed and terms could change again.
Golik declined to speculate on what the deal could contain and does not know if his mine, which covers 400 hectares and employs 350 people, would be part of it.
But he is adamant that the sector “really needs investment” since Ukrainian companies are not putting money into it.
“Who would these investors be? I think our employees, our people, are less interested in that than in having stable jobs.”
– ‘Additional protection’ –
Golik said a “strong foreign investor” would be “a kind of additional protection for the country” and additional tax revenues would boost the army.
“It would not be just Ukraine’s responsibility, it would become the responsibility of Europe or the whole world,” he said.
While his mine is not directly affected by Russian strikes, its functioning has been hit by regular power cuts following Russian attacks on Ukraine’s energy sector.
He said he hopes investors could be interested not only in exporting ilmenite but in producing the pigments inside Ukraine.
These could then be “easily sold in Europe and elsewhere in the world,” Golik said.
Not everyone views Washington favourable given the current political context.
Trump has engineered a stunning rapprochement with Russian President Vladimir Putin and this week suspended all military assistance to Ukraine.
US financial demands have also been seen as predatory by some commentators in Ukraine — a country ravaged by war.
Sergii, the operator of one of the huge excavators at the mine, said he was following the news with “concern”.
“Natural resources are the property of the people,” said Sergii, who has worked at the mine for 35 years.
They “must belong to Ukraine,” he said.