Former U.S. President Donald Trump reignited his longstanding interest in acquiring Greenland during a keynote address at the World Economic Forum, drawing renewed global attention to the Arctic territory's strategic and resource-rich status.
- Donald Trump revived his 2019 proposal to buy Greenland during a 2026 WEF address
- Greenland holds ~13% of global known rare earth element reserves
- Rare earth oxide prices rose 4.2% post-speech; Arctic-focused stocks surged
- U.S. dollar index showed minor upward movement following the remarks
- Denmark reiterated that Greenland cannot be sold under constitutional rules
- Climate change and Arctic trade routes are intensifying geopolitical interest
Donald Trump addressed the 2026 World Economic Forum in Davos, reiterating his 2019 proposal to purchase Greenland from Denmark. Speaking before a global audience of business leaders and policymakers, he emphasized the island’s vast mineral reserves, including rare earth elements critical to clean energy technologies, and its geopolitical significance in the Arctic region. The remarks marked a resurgence of a position first voiced during his 2017-2021 presidency, when he reportedly offered $100 billion for the territory—a figure not formally accepted by Copenhagen. The conversation around Greenland has intensified amid growing competition among major powers over Arctic resources and shipping lanes. According to recent estimates, Greenland holds approximately 13% of the world’s known rare earth element deposits and is home to one of the largest untapped iron ore sites in Europe. With climate change accelerating ice melt, the Northwest Passage could become a viable commercial route within the next two decades, increasing strategic value. Market observers noted that Trump’s comments triggered immediate reactions in commodity markets. Prices for rare earth oxides rose 4.2% within hours, while shares of companies with Arctic exploration interests—such as Nordic Minerals ASA (NMX:NM) and Arctic Metals Inc. (AMET:OTC)—gained 5.8% and 7.3%, respectively. The U.S. dollar index also strengthened slightly, reflecting heightened investor interest in assets linked to North American sovereignty and supply chain resilience. The Danish government reaffirmed its stance, stating that Greenland is an autonomous territory under the Kingdom of Denmark and that no sale would be considered under current constitutional arrangements. However, the debate has drawn attention to the broader implications of resource nationalism and security concerns in polar regions, particularly as China expands infrastructure projects in nearby territories like Iceland and Greenland’s own self-governance initiatives.