US Interest in Greenland

Duncan Wood: Would you say that the U.S. interest in Greenland is a serious long-term minerals play?

Amanda van Dyke: Greenland is very cold, very remote, and has almost no infrastructure and no natural energy at this point in time. Therefore, any kind of mineral production in Greenland is very difficult, very complex, and very expensive, often two to three times more expensive than any place else in the world. I believe that President Trump's interest in Greenland is exactly what he said it was when he said this isn't about minerals, that this was about security. 

Duncan Wood: A connection with critical minerals is speculated in any international relationship. And, you know, we saw that very clearly again with the Venezuela case after the capture of President Maduro. 

Amanda van Dyke: Venezuela has some really exceptional mineral potential and gold mining, for example. It has incredible gold reserves. It also has rare earth potential and a number of other specialty critical minerals. Most of them are undeveloped, and much like Greenland, they're not at a stage where any kind of access would be immediate.

It'll take at least five years, if not 10 years, to develop the critical mineral potential in Venezuela. It'll take a huge amount of money and a huge amount of effort. Much like Greenland, I think national security was the reason he did it.