As the US government ramps up exploration of the Arctic island, tech investors are weighing up how a US occupation of Greenland would affect the viability of mining vital rare earth minerals there, CNBC reported.
Greenland has found itself at the center of a geopolitical battle over the past week, with the United States threatening to annex the autonomous Danish territory over national security concerns. Commercial opportunities are also in the spotlight.
In the past week Critical Metals CorporationTony Sage, CEO of the company developing a mining project on the Arctic island, told CNBC in response to a question from a tech investor about how the U.S. takeover of Greenland would affect its assets and its development strategy. The Nasdaq-listed company’s stock price has risen 116% since the beginning of 2026.
The project is in the early stages of construction of a plant to extract heavy rare earth elements (HREE). HREE can be used to provide thermal resistance and magnetic stability to advanced technologies ranging from EVs to AI data center infrastructure.
Mr Sage said US President Donald Trump’s comments on Greenland had created further “buzz” for the project from investors. Although he did not name specific shareholders, he said Critical Metals’ backers include investors in the Magnificent Seven U.S. tech companies.
Last week, the company’s CEO AmarokMining companies with projects in Greenland told CNBC they are in talks with U.S. government agencies about potential investment opportunities in the region.
The White House said ahead of Secretary of State Marco Rubio’s meeting with Danish officials scheduled for this week that it is “actively” discussing the possibility of buying Greenland, but did not rule out military action to gain the territory.
greenland mines
Interest from tech investors in Greenland’s critical mineral and rare earth mining has increased over the past year. In January 2025, prior to taking office, President Trump reiterated his desire to acquire the massive, strategically located island with a population of just 57,000 people.
Amarok CEO Erdur Olafsson said in an interview with CNBC last week that the company has seen increased attention from investors, including tech investors, over the past 12 months as geopolitical tensions put the supply chain of critical minerals into focus.
In November, the company announced that germanium and gallium, key minerals essential to building advanced AI chips, were present at “commercial levels” at mining projects it owns in Greenland.
“When President Trump imposed tariffs on China, the first two metals that China stopped exporting were germanium and gallium,” Olafsson told CNBC. “Why? Because it’s necessary and absolutely critical for AI, defense, and technology.”
Critical Metals’ Sage said China’s ban on exports of several rare earth minerals in 2025 highlighted to tech investors the challenges of the country’s space dominance.
“Heavy rare earths, including yttrium, gadolinium, terbium, dysprosium, holmium, erbium, thulium, ytterbium, lutetium, and gallium, are the minerals of greatest interest,” he told CNBC.
“These are essential materials for defense technology, robotics, semiconductors, and aerospace applications. Without these materials, we can’t send rockets into space or build nuclear submarines or next-generation fighter jets.”
Sage added that Critical Metals has “strong relationships” with the governments of both Greenland and the United States and does not expect plans to change.
The company’s stock soared 62% in one day in October after Reuters reported that the U.S. government was considering a stake. The rise in prices was suppressed and 2025 ended with an annual rise of 2%.
There is also more skepticism about whether Greenland’s critical rare earth minerals can significantly reduce Western countries’ dependence on China, which produced 70% of rare earths in 2024, according to Statista.
“It takes five to six different stages to get rare earths from exploration to powerful magnets, and right now what we have in Greenland is only in the exploration stage,” Tracy Hughes, founder and executive director of the Critical Minerals Institute, an industry group, told CNBC.
“Greenland’s rare earths are not going to be a big market mover for the next 10 years,” she added.
