[Otto Harkaman]

I am going to guess the real worry is things like this "in 2016, China's Shenghe Resources acquired a 12.5% stake in Greenland Minerals and Energy, which is involved in developing the Kvanefjeld rare earth project."

The Kvanefjeld rare earth project is a significant mining project in southern Greenland, known for its large deposits of rare earth elements (REEs), uranium, and zinc. The project has been a focal point of international interest due to its potential role in the global rare earth supply chain, which is currently dominated by China.
Key Facts About Kvanefjeld

• Location: Near Narsaq, southern Greenland.
• Ownership: Originally developed by Greenland Minerals Ltd. (an Australian company).
• Chinese Involvement: In 2016, Shenghe Resources, a Chinese rare earth company, acquired a 12.5% stake in Greenland Minerals Ltd., making it a key partner in the project. Shenghe is closely linked to China’s rare earth industry.
• Reserves: Estimated to contain 11 million tons of rare earth oxides, making it one of the largest untapped REE deposits globally.

Controversy and Opposition

• Environmental Concerns: The project has faced strong local opposition, particularly due to its uranium content and the risk of radioactive contamination.
• Political Backlash: Greenland’s government has shifted its stance over time. In 2021, Greenland’s newly elected left-wing government banned uranium mining, effectively halting Kvanefjeld’s development.
• Geopolitical Issues: The project attracted U.S. and European interest as part of efforts to reduce dependence on Chinese-controlled rare earth supplies. However, China's involvement raised concerns in Washington and Copenhagen.

Current Status

• With the uranium mining ban in place, Kvanefjeld's development is effectively blocked.
• Greenland Minerals Ltd. has attempted legal challenges against the ban.
• The future of the project remains uncertain, especially with global demand for rare earths increasing.