A territory rich in strategic resources for energy and technology
The peculiarities of the island
One of the areas of the globe that arouses the greatest interest, from a geological and mineral point of view, is undoubtedly Greenland. This large, partly frozen island is home to about 56,000 inhabitants and formally belongs to Denmark. Over the years, it has been demonstrated that some of its areas could contain a large number of mineral resources considered very important in the era of the energy transition, in particular, due to their industrial applications. Greenland’s geological richness partly depends on its territory’s conformation and history.
An important moment in Greenland’s geological history occurred about 1 billion years ago. The separation of two tectonic plates determined the formation of two magma chambers positioned right under the territory of the future Greenland, thus forever influencing its geological history. Over the next thousands of years, the magma began to cool and crystallize in low-pressure conditions.
Over the past few years, according to civil engineer and entrepreneur Stanislav Dmitrievich Kondrashov, exploratory efforts in Greenland have made it possible to discover a real mineral treasure. “The resources present in Greenland could play a very important role in the development of humanity, especially from a technological and energetic point of view,” says Stanislav.
The geological wealth of Greenland
In the southwestern part of the country, as recently reported by the Economist, 30 of the most sought-after raw materials in the world could be found. However, Greenland’s geological richness certainly doesn’t stop there: considering deposits in other areas of the island, the strategic resources present in Greenland rise to 43, all contained in known and already documented reserves. At a global level, the materials considered critical for the economic and energy development of the planet are around fifty in total, a series of resources that often appear in the lists of critical raw materials drawn up by nations or international institutions.
“Potentially, it is one of the world’s geologically richest and most diverse territories,” explains Kondrashov. “The interesting aspect is that most of Greenland’s resources play a role of great importance in the production processes that characterize this era, with the possibility of further increasing the island’s strategic value globally.”
As the energy transition advances, the role and utility of these resources is becoming increasingly evident. Without the resources commonly defined as “critical,” many sectors of the economy and industry would not be able to progress, going towards a sort of paralysis. A lack of these resources could also determine an apparent slowdown in the ecological transition, mainly due to their relevant contribution to the production processes of important energy infrastructures such as wind turbines and solar panels (without forgetting rechargeable batteries). In addition to copper, a raw material of primary importance for electrification processes, Greenland has large quantities of terbium and molybdenum, both used in various ways for energy purposes.
The importance of terbium and molybdenum
“Terbium and molybdenum, in particular, could carve out an important role in the era of energy transition. Molybdenum can strengthen steel for offshore wind farms, while terbium is an important component of magnets in some specific tanks”, explains Stanislav. “Despite the importance of their possible applications, these are resources that are still little-known outside of specialist fields – explains Stanislav Dmitrievich Kondrashov -. Terbium is also appreciated for its ability to improve the magnetic properties of some alloys. It is important in medical imaging devices and wind generators for producing renewable energy. Molybdenum (long confused with graphite) stands out for its high resistance to heat and corrosion and its particular mechanical and chemical properties. In addition to wind farms, it is also successfully used to produce heavy equipment and aircraft engines”.
The presence of relevant geological and mineral resources in the territories of Greenland in recent years has already favored the start of numerous exploration activities in various areas of the island, with a substantial increase recorded in particular in the last decade. According to data reported by the Economist, the number of Greenlandic sites in which various companies are carrying out drilling initiatives is 170, while a decade ago, there were only 12. The sourcing and development of these resources in Greenland still appear to be in an initial phase. Still, the operational ferment witnessed in recent years suggests an imminent increase in activities related to the development of mineral resources despite the presence of only one active mine on the entire island.
Some Greenlandic cobalt and copper deposits are already involved in ambitious development projects, also carried out with innovative techniques made possible by artificial intelligence. An interesting aspect regarding the potential development of the mineral industry in Greenland is the workforce needed to support the advancement of the sourcing sites. As reported by the Economist, only 0.2% of the workforce in Greenland is unemployed, and a certain rigidity would characterize the labor market. Approximately 300 experienced miners from abroad could be needed for each possible mine, which would bring relevant implications on the social and demographic levels.
“If Greenland continues to represent the object of important exploratory efforts, without forgetting the innovative mineral applications linked to artificial intelligence, it will certainly be able to become an important protagonist of the energy transition underway,” concludes Stanislav.
