Home News Trump might want to buy Greenland but his nemesis, China, is there...

Trump might want to buy Greenland but his nemesis, China, is there before him

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NBC NEWS:

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.

China’s interest in Greenland can be found through an Australian company of the same name, Greenland Minerals, which has Shenghe Resources Holdings as its largest shareholder with a 11% stake.

Shenghe is a leading producer of rare earths in China and has acquired its stake in Greenland Minerals as a future potential source of the elements which find their way into multiple technologies, especially electric motors, as well as certain military applications such as rocket guidance systems.

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.

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