As President Trump claims that the acquisition of Greenland is the key to the economic security of the United States, he is flanked by rich investors who have viewed the island as a potentially lucrative location for mining metals and minerals.
Among them is his trading secretary -nominated, Howard Lutnick, who has a financial interest in the mining promise of the island through an investment his financial enterprise, Cantor Fitzgerald, has a company called Critical Metals Corp., according to Securities Dossings. Critical Metals is planning to start the mining process in 2026, according to managers.
Mr Lutnick, whose hearing of the Senate confirmation is planned for Wednesday, intends to resign as Chief Executive Cantor Fitzgerald, a private company, if confirmed. His interests in the company would be sold within 90 days of his confirmation, according to his ethical agreement of the government, and during that period he would not participate in an issue that has a “direct and predictable effect” on the company, unless he has a Exemption through which he could do this.
As head of the Commerce department, which promotes the interests of American companies abroad, Mr. Lutnick would supervise all tariff and trade policy, Mr Trump said. That could be Greenland if the president's efforts to expand the role of the country on the island are successful.
It is still to be seen whether Mr Lutnick would fully recover from policy issues with regard to Greenland. Neither he nor the White House responded to requests for comments.
The American influence on Greenland, an autonomous Danish territory, could benefit miners, who could possibly enrich investors in critical metals and in turn and in turn the former business partners of Mr Lutnick at Cantor Fitzgerald, which he more Then 30 years run.
Critical metals urge the US government financing for its project since last fall, but was told to suspend his request until the new administration in Washington arrived, according to Tony Sage, the CEO. Mr. Sage said that he considered Mr Lutnick and his company a possible leadership for discussion about future investments by the US government.
“They could” be favorable, Mr Sage said, adding: “Having an investor already helps.”
Mr. Lutnick is one of the various supporters of Mr Trump who have ties with investments in Greenland and are able to shape the thinking of the president on this subject.
That circle includes the Silicon Valley investor Marc Andreessen, the Tech entrepreneur Sam Altman and the founder of Amazon Jeff Bezos. As individuals or through their companies, all three donated to Mr. Trump's re -election efforts or his inaugural committee. Through their risk capital companies, all three are also investors in Kobold Metals, a private company based in Berkeley, California, which has investigated for minerals and metals in Greenland.
A spokeswoman for the venture capital company of Mr Andreessen refused to comment. Mr Altman and a spokesperson for Mr Bezos did not respond to requests for comments.
A spokesperson for Kobold Metals refused to say whether the company, that Disko Island examined for the west coast of Greenland for mining options in 2022, would probably do business there in the future.
Greenland's glaciers, freezing weather and the lack of roads and other infrastructure have long made it a difficult investment environment. Some mining managers and investors believe that an improved regulation with the United States can benefit US national security and create economic opportunities for both parties.
“I think it can be a win-win for the US and for Greenland, regardless of how it ends, whether it is a closer working relationship or that we offer defense or something to Greenland,” said Peter Leidel, whose private equity company , Yorktown partners, has a controlling interest in a mining project.
The idea of buying Greenland has been a hobby horse for Mr. for many years. Trump. During his first term, he was a chance to expand the global footprint of the United States, and in 2019 he even drove the opportunity to trade Puerto Rico, an American territory, for Greenland, according to Peter Baker's book and Susan Glasser “The Distributor.” But his hope is bustled in the midst of objections from Denmark, the American ally who supervises Greenland, and some of Mr. Trump's advisers achieved the idea as division and bizarre, according to the book.
Under former President Joseph R. Biden Jr. The United States continued to urge improved involvement in Greenland, albeit quieter. Officials from the Ministry of Foreign Affairs traveled to the island last year to discuss its natural resources, and the American export-import bank showed interest in the financing of a graphite mine project that is managed by a British company. Mining managers said they also hoped that the urge of Mr Biden could go to clean energy to their efforts for rare earth, given that rare earths are essential components in electric vehicles, wind turbines and solar panels.
The undermining of the dominance of China in the mining of a rare earthy nature was also part of the Calculus of Biden, mining managers remembered. “They made it very clear that they would like this material to go to the US,” said Greg Barnes, who spoke with American officials before sold his interest in the Tanbreez Rare-Earths-Mijn in southern Greenland to critical metals, the Retired company in New York in which Cantor Fitzgerald is invested last summer. That concern about Chinese involvement will almost certainly become even greater among Mr Trump, who has long cast China as a malignant influence in the US and worldwide things.
Greenland received little or no broadcasting time during Mr. Trump 2024. But on December 22, as he announced Ken HOINY as his choice for the American ambassador in Denmark on his social media site, Mr. Trump called “ownership and control” of the island “an absolute necessity.” In other messages and comments that followed, he described Greenland as crucial for American national security.
Denmark has so far resisted the idea of a sale. But his efforts to find lawyers in Washington have been founded so far. In the meantime, the eldest son of Mr Trump, Donald Trump Jr., undertook a short good will through Greenland this month. And the oldest Mr. Trump has refused to exclude the idea of taking Greenland by violence.
In interviews, mining managers and investors in Greenland said that they did not come to the island on a certain result to Mr Trump's urge. But most of them said that the level of interest that the transatlantic debate had fueled, and the resources that it could draw on the mining options of Greenland were a net positive.
“The Trump presidency, I think, improves our small investment,” said Mr Leidel, the investor of the Yorktown Partners, who, according to the federal data, donated $ 315,000 to Mr. Trump's re-election efforts. He said his donation was motivated by a desire for the United States 'to do it well' and not by any expectations around Mining in Greenland.
Kitty Bennett contributed research.
