Trump supporters view Greenland as a second Alaska

Among supporters of U.S. President Donald Trump, Greenland has recently been viewed as a “second Alaska.” Though far from the U.S. mainland and largely covered in ice, the territory is considered rich in natural resources.

Rising global temperatures have thinned Greenland’s ice sheet, leading experts to assess that resource extraction is becoming more feasible. The island holds abundant rare earth elements, including neodymium and dysprosium, strategic minerals such as nickel, lithium, and titanium, as well as deposits of natural gas and crude oil. In 1867, the United States purchased Alaska, also rich in oil and minerals, from Tsarist Russia for just $7.2 million, roughly 10.44 billion won at current exchange rates. Its current value is now considered incalculable.

Lumina, Greenland’s leading integrated resource development company, operates across the entire value chain, from mineral exploration and extraction to processing and raw material supply. The company is particularly strong in mining anorthosite, an aluminum-bearing mineral used as a raw material for glass and paint. Greenland’s rock formations share characteristics with lunar rocks, and Lumina’s materials are used by NASA to test the performance of advanced materials, including those used in spacesuits. Analysts say that if the United States secures mining rights in Greenland, as President Trump has suggested, large-scale investment or mergers and acquisitions involving companies like Lumina would likely follow.

At the same time, rising tensions between the United States and major European countries over Greenland, combined with growing global industrial interest, have left the territory’s resource sector facing both hopes and concerns. Rals, a Lumina public relations official, said interest has clearly increased but has yet to translate into large-scale investment projects. He added that only a small number of additional supply contracts have been signed so far. The Danish government and Greenland’s autonomous administration have recently cautioned the resource industry against excessive investment and overly aggressive project expansion.

Industry officials have emphasized their resolve not to be swayed by excessive external attention. Rals said heightened interest can be helpful, but too much focus can sometimes create confusion. He added that the company plans to pursue projects in a systematic and cautious manner.

Some observers have also cautioned that the United States may be underestimating the challenges of entering Greenland’s resource sector. Geheug, a senior executive at Lumina, said that while the United States could advance more quickly due to its financial resources, resource extraction remains a highly complex endeavor. He noted that although some mineral deposits could support production for up to 30 years, it can take as long as a decade from the start of a project to the beginning of actual extraction.