According to the "The fresh York Times", Trump's nomination, which will be liable for the United States' trade policy, was tempted by the large wealth of Greenland.
"Lutnick can form the President's thinking"
According to the analysis of securities documents, the future US Trade Secretary through his company Cantor Fitzgerald invested in Critical Metals Corp. According to the leadership of Critical Metals, it plans to start mining in Greenland as early as 2026.
Lutnick's proceeding in the American legislature took place on Wednesday, January 29. The politician plans to resign as CEO of Cantor Fitzgerald if his candidacy is approved.
His shares in the company would have been sold within 90 days of his approval. During this period, he would not have participated in any case that has a direct and foreseeable impact on the company unless he received a waiver that would let him to do so.
Trump said as head of the Department of Commerce who promotes the interests of American companies abroad, Lutnick would oversee the full tariff and trade policy. This may include Greenland if the President's efforts to increase the function of the US on the island are successful.
It is not yet known whether Lutnick will completely exclude himself from political issues related to Greenland. Neither he nor the White home responded to requests for comment made by The fresh York Times.
American impact on Greenland, the autonomous territory of Denmark, could benefit the miners there, possibly enriching investors from Critical Metals and Lutnick's business partners at Cantor Fitzgerald, which he managed for over 30 years.
According to Tony Sage, Director-General of Critical Metals, the company has sought backing from the United States government since the autumn of last year, but was told to postpone its request until the fresh administration took power.
Sage said he treats Lutnick and his company as a possible channel for discussion on future US government investments.
— It could be beneficial. Having an investor helps," he said.
Lutnick is 1 of respective Trump supporters who have connections to investments in Greenland and may be able to form the President's reasoning on this subject.
"I think this could be beneficial for the United States and Greenland"
This ellipse includes an investor from the Silicon Valley Marc Andreessen, technology entrepreneur Sam Altman and Amazon founder Jeff Bezos. Both as individuals and through their companies, all 3 donated to Trump's efforts to re-election.
Through their venture capital companies, all 3 are besides investors in KoBold Metals, a private company based in Berkeley, California, which runs search for minerals and metals in Greenland.
Michael S. Lewis / Getty ImagesGreenland island Qaanaaq, typical scenery of the island (picture)
A spokesperson for venture capital Andreessena refused to comment. Altman and the spokesperson for Bezos did not respond to requests for comment.
A spokesperson for KoBold Metals refused to answer the question of whether the company that investigated Disko Island on the west coast of Greenland in terms of mining opportunities in 2022 would be doing business there in the future.
Greenland glaciers, cold weather and a shortage of roads and another infrastructure have long made it a hard environment for investment. any mining directors and investors believe that an enhanced agreement with the United States could benefit US national safety and make economical opportunities for both parties.
— I think it may be beneficial for the United States and Greenland, regardless of how it ends, whether it is just closer cooperation or we will supply Greenland with a defence," said Peter Leidel, whose private equity company, Yorktown Partners, has a controlling stake in a mining task in Greenland.
"Trump will have even greater concerns about Chinese engagement"
The thought of buying Greenland has been accompanied by Trump for many years. During his first term, he presented her possible acquisition as an chance to grow the global influence of the United States. According to Peter Baker's book and Susan Glasser's "The Divider" in private talks in 2019, he even privately presented the anticipation of exchanging Puerto Rico, U.S. territory, to Greenland.
At that time, he had to deal with taste in the face of opposition from Denmark. It is to this country, which is an ally of the United States, that is the largest island in the world. According to the book, any Trump advisors besides rejected his thought as bizarre and introducing divisions among allies.
Under erstwhile president Joe Biden States The U.S. besides pressed for greater engagement of the US in Greenland, although the administration tried to do so behind the scenes. State Department officials went to the island last year to discuss her natural resources, and the US Export-Import Bank expressed an interest in financing a graphite mining task conducted by a British company.
Mining directors said they besides hope that Biden's emphasis on clean energy could benefit their efforts to extract uncommon earth metals, given that uncommon earth metals are essential components in electrical vehicles, wind turbines and solar panels.
According to the Mining Directors, with whom he spoke “The fresh York Times”, the limitation of China's dominance in extracting uncommon earths was besides part of Biden's administration's calculation.
— They said very clearly that they would want these minerals to go to the US," said Greg Barnes, who spoke to American officials before selling his share of the Tanbreez uncommon earth mine in confederate Greenland to the Critical Metals based in fresh York City, in which Cantor Fitzgerald invested last summer.
It is almost certain that Trump will have even greater concerns about Chinese engagement. The Republican has long warned against China's bad influence on the United States and global affairs.
“The Trump Presidency strengthens our tiny investment”
During Trump's 2024 campaign, the issue of Greenland was raised seldom or at all. But on December 22, erstwhile he announced Ken Howery his choice as US Ambassador to Denmark on his social media website, Trump called the island “ownership and control” an “absolute necessity”. In another posts and comments, he described Greenland as crucial to U.S. national security.
Denmark has so far resisted the thought of selling the island. But her efforts to find supporters They haven't worked in Washington yet. Meanwhile, Trump's eldest son, Donald Trump Jr., made a brief journey to Greenland this month. And Donald Trump refused to exclude the thought of taking Greenland by force.
In interviews, mining directors and investors in Greenland said that they did not anticipate any concrete consequence of Trump's force on the island. However, most of them said that the level of interest generated by the debate on this subject could increase their capacity to act in Greenland.
— I think Trump's presidency strengthens our tiny investment," said Leidel, an investor in Yorktown Partners, who donated 315,000 dollars (about PLN 1 million 281,000) to Trump's efforts to re-election, according to national documents. He said that his donation was motivated by the desire for the United States to "handle well" alternatively than the expectations of mining in Greenland.
The article originally appeared in "The fresh York Times". You can read it with your Onet Premium subscription.
© 2025 The fresh York Times Company
