Here’s why Greenland is wanted so much, according to a geologist
Here’s why Greenland is so rich in natural resources
- Greenland, the world's largest island, possesses vast natural resources, including critical raw materials such as lithium and rare earth elements (REEs), alongside significant hydrocarbon reserves.
- These resources are crucial for green technologies and the global energy transition, with some of Greenland's REE deposits potentially ranking among the world's largest by volume.
- The island's exceptional concentration of natural resources is attributed to its varied four-billion-year geological history, involving periods of mountain building, rifting, and volcanic activity.
- Greenland is estimated to hold substantial sub-ice reserves of dysprosium and neodymium, which could meet over a quarter of future global demand for these elements vital to wind power and electric motors.
- The increasing accessibility of these resources due to climate change presents a dilemma: their extraction could aid the energy transition but also exacerbate environmental damage, amidst international interest and pressures on existing regulations.