Providing CAD 7 million in funding, Canada becomes the first G7 country to invest in mining in Greenland

Golden Ten Data reported on June 29 that mining company Greenland Resources announced on Monday that the Canadian government has provided 7 million Canadian dollars (approximately 4.93 million US dollars) in non-repayable funding for one of its molybdenum mining projects. Molybdenum is a key metal widely used in the aerospace, energy, and defense sectors, and has been jointly listed as a critical mineral by the European Union and the United States. Greenland Resources stated that Canada is the first G7 government to invest in a mining project in Greenland. Previously, former US President Trump’s attempt to gain control over Greenland was rejected by the Danish and Greenland governments, but it sparked strong interest from Western countries in the island’s rich mineral resources.