President Trump is reportedly interested in buying Greenland but he will find that China has already staked a small claim
The U.S. President, Donald Trump, has reportedly suggested the purchase of Greenland from the Danish Government, but if that's correct he'll find that China has staked out a claim already, and in a commodity the U.S. needs, rare earths.
The Australian company invited Shenghe to invest after it struggled to generate significant support in its home base or in Europe or North America, partly because the original plan for Greenland Mineral's Kvanefjeld project was as a source of uranium.Over-supply and low prices saw Greenland switch focus from uranium to the rare earths in the same ore-body which is located in the south-west quarter of Greenland, at one of its closest points to the U.S.
Greenland Minerals said in its June quarter report that the latest work had confirmed Kavenefjeld as:"one of the most significant emerging rare earth projects globally with a large projected output of neodymium, praseodymium, dysprosium and terbium". But, as Greenland Minerals has been trying to find a way to develop its project it also conducted two important meetings that could have been a trigger for the reports that President Trump has suggested buying the island from Denmark.
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