Nov 26 (Reuters) - The outgoing administration of U.S.
President Joe Biden is making a last-ditch push for mining
companies and others to invest in Greenland, a move aimed at
cementing its critical minerals diplomacy and boosting Western
supply of materials for the energy transition.
Before President-elect Donald Trump takes office in January,
Biden and his staff have been taking multiple steps to shore up
their legacy, including boosting aid to Ukraine and rushing to
approve U.S. mine permitting and financial incentives.
Jose Fernandez, the State Department's under secretary for
economic growth, energy and the environment, spent four days in
Nuuk last week to meet with the Ministry of Foreign Affairs and
Minerals Resource Authority.
Greenland, a semi-autonomous part of Denmark and host to one
of the largest U.S. Air Force bases, contains large deposits of
most of the minerals considered critical by the U.S. Geological
Survey.
"That was my attempt to provide to investors a glimpse of
what opportunities exist in Greenland," Fernandez told Reuters.
"Greenland wants to become the next mining frontier."
The visit culminated in an eight-hour conference call last
Wednesday from Nuuk moderated by Fernandez between Greenland
officials and more than 70 Japanese, European and U.S. mining
companies and other potential investors.
Diplomats from Australia, the United Kingdom and the
European Union, as well as the U.S. Export-Import Bank and the
European Investment Bank, joined the call, which focused on
seven projects, including a rare earths project from Neo
Performance, a nickel project from Anglo American
and a molybdenum project from Greenland Resources
.
"In Greenland, we see the development of critical minerals
as a shared global responsibility, where our country can take on
a leading role," said Naaja Nathanielsen, Greenland's minister
for industry, trade, minerals, justice and gender equality.
The U.S. State Department has been offering permitting,
mapping and other regulatory advice to Nuuk officials, as well
as helping to draft a mining investment law, all aimed at
prodding investment in Greenland at standards considered higher
than Chinese-linked rivals.
"Yes, we want to get their critical minerals and use them in
our economy, but we don't want to do that at their expense,"
said Fernandez.
Trump, who takes office in January, unsuccessfully tried to
buy Greenland from Denmark during his first term.
"I cannot forecast what the next administration will do, but
the business case will not change," Fernandez said. "The demand
for critical minerals worldwide is increasing exponentially."