US President Donald Trump remains determined to annex Greenland, despite his failed attempts to apply diplomatic pressure in recent months.
Now, a private sector delegation, led by the Trump administration is heading to explore investment opportunities in the island’s rich natural resources and inject significant capital into the region, according to Reuters.
The move comes after Trump’s earlier efforts to acquire Greenland through diplomatic channels were firmly rejected by both Greenland and Denmark.
Since Trump’s presidency began in January, American interest in Greenland, which remains under Danish sovereignty while maintaining self-governance, has intensified, creating diplomatic friction with Copenhagen.
Trump has not ruled out the use of military force to acquire Greenland if Denmark refuses to “sell it.”
The American private sector is seeking to invest in Greenland’s abundant natural resources, particularly its rare earth mineral deposits. The timing aligns with recent political changes, as Jens-Frederik Nielsen has assumed the role of prime minister in the Arctic territory.
This delegation of private sector representatives is making their inaugural visit to the Arctic island following the election victory of Jens-Frederik Nielsen, who represents the business-friendly Demokratiit Party as the new premier.
The delegation, led by Drew Horn—CEO of GreenMet and a former energy official under Trump—includes representatives from companies such as Critical Metals Corp, Cogency Power, American Renewable Metals, and Refacture.
Backed by major institutional investors like Cerberus Capital Management and Cantor Fitzgerald, the group aims to boost US private sector presence in Greenland.
“I’m not trying to do anything crazy like orchestrate a purchase or acquisition of Greenland by the United States,” Horn told Reuters.
“We’re looking simply to do traditional private sector business development,” he added, noting his consortium includes established investors like Cerberus Capital Management and Cantor Fitzgerald.
The visit occurs shortly after Denmark’s King Frederik’s trip, symbolising the continued unity between Greenland and its former colonial power. Nielsen has called for stronger international ties while reaffirming Greenland’s relationship with Denmark.
Interest in Greenland has grown since Trump took office, driven by the island’s vast deposits of rare earth elements and other minerals, potentially worth trillions. Greenland’s mining sector, potentially worth trillions in mineral deposits, currently sees dominance from Australian, Canadian, and British firms, with minimal American involvement.
Horn further said that the private sector growth could enhance collaboration in an independent Greenland supported by US private development. The delegation’s itinerary includes visiting the Tanbreez mining site, amongst the world’s largest rare earth deposits.
