The Indicator from Planet Money Is Greenland really an untapped land of riches?
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Jan 21, 2026 Discover the intrigue behind Trump's interest in Greenland's untapped mineral wealth. An Australian geologist reveals the staggering potential of rare earth elements like cerium and neodymium found in the region. With a $50 million gamble, he highlights the challenges of securing exploration licenses amidst local concerns about uranium. Explore the geopolitical implications, including foreign offers and U.S. intervention. As production nears, questions about infrastructure and community impact linger.
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Discovery Of The Tanbreeze Deposit
- Greg Barnes discovered a massive, unique mineral deposit in southwest Greenland called Tanbreeze after years of exploration.
- He described finding hundreds of large, unique minerals including eudialite that contained valuable rare earth elements.
Rare Earths' Strategic Importance
- Greenland's eudialite contains rare earths like cerium, yttrium, and neodymium with key industrial uses.
- Outside China, processed rare earths are scarce and geopolitical moves can quickly disrupt supply chains.
How He Secured The Claim
- Greg obtained the exploration license for Tanbreeze by 're-pegging' when a Canadian group's permit expired and they were slower to reapply.
- He then invested about $50 million of his own money to advance the project toward an exploitation license.