Greenland Is the Destination for Rare Earths

Trumpillini was not entirely stupid when he asked Denmark to sell Greenland to the USA. The world's largest island at 660,000 square miles (Australia is a continent, not an island) it is rich in minerals included rare earths that are needed for a green power production.  Rare earths are used in battery production, electronic circuits and wind generators to name only a few applications. One of the only companies outside of China that processes these minerals have bought an exploration lease in Greenland to begin mining in a few years.  As Greenland warms and the ice cap melts, year around operations become more feasible. [AP file photo]

Toronto based, Neo Performance Materials, plans to exploit the Sarfartoq deposit in southwest Greenland. it will crush ore in Greenland and send it to Estonia for further chemical processing.  Previously, applications to begin mining were rebuffed by the Greenland government over concerns of the environmental impact of industrial mining operations. Once concern that killed another project was the high levels of uranium associated with the desire minerals.  Neo says the Sarfartoq site can be mined within EU exposure limits.  In recent years, both the United States and Japan have expressed concern over China's domination of the market, calling it a "security risk" and seeking to diversify supply.

Myanmar has been the beneficiary economically, of the global search for exploitable rare earth deposits.  But Myanmar's mines have a downside too.  Lack of government oversight, corruption, and environmental destruction make the mines a dirty secret.  AP traced the mineral to 78 different companies including major auto makers and giant electronic firms.  Companies are willing to pay more for minerals mined in a sustainable way in stable, transparent countries.