While tensions with the US are escalating and Europe's indifference has left Greenland in a corner, the autonomous territory of Denmark is considering opening up investment flows from China, especially in the mining sector.
Speaking to the Financial Times on May 27, Ms. Naaja Nathanielsen, Greenland's Minister of Business and Mineral Resources, frankly said: "We are trying to find a place in the new world order."
Greenland has large reserves of gold, copper and rare minerals but is difficult to exploit, requiring foreign capital and technology. However, Nathanielsen said, increasingly complex relations with the West are making it difficult for the Arctic island nation to find a reliable partner.
During the first term of US President Donald Trump, Washington signed a memorandum of understanding on mineral development with Greenland. However, the memorandum of understanding is about to expire and efforts to extend President Joe Biden's tenure have failed.
When Donald Trump returned to the White House earlier this year, instead of resuming cooperation, he revived the idea of buying Greenland, not even ruling out the possibility of using force to reign.
The Greenland minister responded strongly, calling the statement "offending and offensive", and asserted: "Greenland has no intention of becoming a part of the United States."
In that context, China emerged as an option. Beijing has long expressed interest in the potential for mining in the Arctic, invested heavily in Russian energy and expressed interest in Greenland's mining sector.
No Chinese company is currently mining in Greenland, although one holds a minority stake in a suspended project. According to Nathanielsen, the Chinese side still seems to be "inactive" because they do not want to cause political agitation.
In that aspect, investment from China is clearly problematic, but so is the US, to some extent, she said.
Greenland still wishes to cooperate more closely with the EU, which has similar environmental priorities. However, there is currently only one project implemented by the Danish - French joint venture in the preparation stage, expected to be exploited within the next 5 years.
Meanwhile, there are only two mines operating in Greenland: one gold mine operated by Iceland- Canada Amaroq Minerals and one anorthosit mine operated by Hudson Resources ( Canada).
