ETM’s Mamadou highlights Greenland’s untapped mineral wealth, citing potential reserves of 2.4 million metric tons of rare earth elements. The announcement signals growing interest in Arctic resource development amid shifting supply chain dynamics.
- Greenland's mineral deposits could hold 2.4 million metric tons of rare earth elements
- 65% of the reserves are heavy rare earth elements, highly valuable for green tech
- Two major projects—Kvanefjeld and Nalunaq—are central to current exploration efforts
- ETM is developing joint ventures with Finnish and Danish investors for extraction rights
- Feasibility studies for initial production are scheduled for Q2 2026
- Potential to supply 15% of global rare earths by 2035, reducing reliance on China
ETM’s Mamadou has unveiled new estimates suggesting Greenland’s mineral deposits could contain up to 2.4 million metric tons of rare earth elements, a figure that could nearly triple current global reserves. The projection comes from recent geological surveys conducted across the southern and central regions of the island, areas previously underexplored due to harsh climate and logistical challenges. The estimates are based on data from 17 identified mineralized zones, including the Kvanefjeld and Nalunaq projects, both of which have been under evaluation for over a decade. Of the total, approximately 65% is classified as heavy rare earth elements—critical for high-performance magnets used in wind turbines, electric vehicles, and defense technologies. This concentration makes Greenland a strategic asset in the global transition to low-carbon energy systems. Current global rare earth production is dominated by China, which controls over 80% of refining capacity. With geopolitical tensions influencing supply chains, the potential for Greenland to emerge as a diversified supplier has attracted investment from European and North American firms. ETM has secured exploration rights to two sites under a joint venture with a consortium of Finnish and Danish investors, with initial extraction feasibility studies expected by Q2 2026. Market analysts note that if production begins at scale, Greenland could account for 15% of global rare earth output by 2035. The development would also create over 1,200 direct and indirect jobs in remote communities, though environmental safeguards remain a key regulatory hurdle.