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Greenland. Treasure Island. The deposits are huge

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Greenlandic deposits are a chance for the European Union to become independent from China, said the Polish Economic Institute. He added that the island contains about 30 percent of the world's deposits of rare earth elements. On Monday, US President Donald Trump again mentioned the issue of acquiring Greenland “for international security purposes.”

As reported in the Economic Weekly of the Polish Economic Institute, Greenland contains 36.1 million tons of rare earth elements, which constitutes approximately 30 percent. world deposits of these raw materials.

At the same time – according to Eurostat data – in 2023, 18.3 thousand tons of rare earth elements were imported to the European Union, and the value of imports of these elements to the EU amounted to EUR 123.6 million. 39 percent EU imports came from China33 percent from Malaysia, and 22 percent With Russia.

PIE calculated that Greenland's deposits of rare earth elements are almost 2,000 years old. times greater than the EU's current annual import needs.

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A chance to become independent from China

According to PIE economists, Greenland deposits are therefore a chance for the EU to become independent from China. “Greenland's resources can play a key role in diversifying the supply of critical raw materials to the European Union,” it was noted.

The report also noted that China is responsible for 60 percent. mining of rare earth metals, and their share in processing reaches 90%.

It was noted, however, that China began to use the export of selected raw materials as a pressure tool, announcing export restrictions on the export of gallium, germanium and graphite in 2023.

Simultaneously Donald Trump – as noted – he recognized that Greenland with “huge deposits of rare earth elements”, comparable in size to deposits in China, is the key to increasing the raw material security of the United States.

Especially since Greenland also has significant deposits of other critical raw materials, including 12.1 thousand. tons of titanium, 11.5 thousand tons of phosphorus, as well as “noticeable amounts” of niobium, tantalum, vanadium, graphite and platinum group metals.

These elements are also included in the so-called critical and strategic raw materials of the European Union and Poland – noted. Critical raw materials are those that are of particular importance, including: for the renewable energy sector (battery cells for cars, engines for windmills), space, digitalization and defense.

Trump's announcements

Greenland is an island with an area of ​​over 2 million square kilometers and a population of approximately 57,000. It is part of the kingdom Denmark for 600 years, and since 1979 it has enjoyed autonomy (additionally expanded in 2009) from the authorities in Copenhagen.

In early January, Donald Trump stated that United States “they need Greenland for national security reasons.” He also added that he was not sure whether Denmark had rights to this island.

On Monday, the day he was sworn in as US president, Trump again expressed his claim to obtaining Greenland “for international security purposes.”

Greenland wants to cooperate more closely with the United States in the defense and exploration of the island's mining resources, declared the Prime Minister of Greenland, Mute Egede, in mid-January. He emphasized at the press conference that his government was looking for ways to cooperate with the United States and that he was ready to start a dialogue with the new Donald Trump administration.

– Greenland's independence is Greenland's issue, also with respect to the use of its land, so it will also be up to Greenland to decide what agreement we should reach, Egede said, when asked about a possible expansion of American military capabilities on the island. – This is the first time Greenland is being listened to in such an intense way. We have to stay calm and take advantage of this situation, he added.

There is an American Thule air base in Greenland – renamed a Space Force base in 2023.

GreenlandPAP

Main photo source: Shutterstock



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