Minerals were the elephant in the room in Davos
Security in the Arctic was Trump’s official message in Davos. But interviews, NATO statements and economic interests show that it is closely tied to mineral rights.
January 22, 2026 | INTERNATIONAL POLITICS
AI-generated image utilizing an official photo of Donald Trump
Framework for Greenland and Arctic
In a post on Truth Social yesterday, U.S. President Donald Trump announced that he was withdrawing the threat of punitive tariffs against seven European countries, which he had previously issued as a result of an ongoing conflict over Greenland. The notice, reproduced below, came shortly before Trump delivered his speech at the World Economic Forum’s annual meeting in Davos. There, he reiterated his message that he, in cooperation with NATO Secretary General Mark Rutte, had formed a framework for an agreement concerning Greenland and the Arctic.
Later that evening, Trump gave an interview to CNBC in which he presented the framework as a concept linked to missile defense (Golden Dome) and mineral rights, while stressing that it is complex and that details will be finalized at a later stage. Today, the NATO Secretary General gave an interview to Bloomberg TV, where he said he values Trump’s initiative to secure the Arctic against China and Russia. According to Rutte, the framework for Greenland is to include both military and economic aspects, without mineral resources being mentioned directly. Rutte further said that issues related to Greenland’s sovereignty have not been discussed.
The framework for the Arctic and Greenland appears more like an outline than a finalized agreement, not unlike what has been seen in other Trump initiatives, such as the Gaza peace plan. In the media, there has been discussion about whether Greenland could cede sovereignty over certain areas to the United States, but this has not been confirmed by any official source.
Minerals are the elephant in the room
The elephant in the room is mineral rights, despite Donald Trump stating in his speech yesterday that the issue was not minerals, but security in the Arctic. As mentioned above, he nevertheless went on to mention mineral rights in his CNBC interview shortly after the speech, perhaps inadvertently.
When Rutte in today’s interview confirms that the framework concerns not only the military, but also economic matters, a picture begins to emerge. Normally, NATO does not involve itself in economic issues unless they relate to NATO funding. This could indicate a desire to link military investments to mineral revenues. It could, however, also mean other things, such as the United States setting conditions that China and Russia are not allowed to invest in mineral extraction in Greenland, that the minerals are reserved for NATO countries, or that the United States demands an ownership stake in mineral rights, similar to the mineral agreement with Ukraine.
The US defines minerals as national security
In November 2025, the United States finalised a list of 60 critical minerals defined as essential to national security.
A few days ago, on 16 January, Trump signed Proclamation 11001 directing the administration to negotiate mineral agreements and price floors with allied countries, with a status report due by 13 July. If the negotiations do not succeed, measures such as tariffs and sanctions may be introduced.
Military security presupposes access to and control over critical minerals. Modern weapons systems and the defense industry are increasingly dependent on rare earths and other strategic raw materials, including for missiles, radar systems, satellites and electronics. Without domestic or secure access to such minerals, supply chains will be vulnerable, making mineral resources an integral part of national and allied security.
Several American billionaires have invested in Greenland, among them Jeff Bezos and Bill Gates. This reflects the importance of minerals to industry, as well as the need to break China’s dominant position in the mineral market in order to regain control over global trade.
It is no coincidence that Trump has been negotiating with NATO rather than the EU. As Greenland is not an EU member, the EU does not have direct access to Greenland’s minerals through the EU regulation Critical Raw Materials Act (CRMA), although a strategic partnership has been established between the EU and Greenland. In addition, Denmark is an EU member.
The framework also applies to Norway
As the framework in question is intended to cover the entire Arctic, it will also apply to Norway. The Labour Party government wants to incorporate the EU mineral regulation (CRMA) mentioned above into Norwegian law. In practice, this would mean that Norway transfers control over its mineral resources to the EU. Prime Minister Jonas Gahr Store has placed Norway in a very difficult situation, as he promised Donald Trump access to minerals in a letter from November 2024, read more here.
Many Norwegians argue that Greenland has the right to control its own resources, but are unaware that Norway risks losing control over its own mineral resources to the EU. This would be the equivalent of handing over Norway’s oil to the EU in the 1970s, read more in The Mineral Petition.
FromTruth Social 21. januar 2026
Based upon a very productive meeting that I have had with the Secretary General of NATO, Mark Rutte, we have formed the framework of a future deal with respect to Greenland and, in fact, the entire Arctic Region. This solution, if consummated, will be a great one for the United States of America, and all NATO Nations. Based upon this understanding, I will not be imposing the Tariffs that were scheduled to go into effect on February 1st. Additional discussions are being held concerning The Golden Dome as it pertains to Greenland. Further information will be made available as discussions progress. Vice President JD Vance, Secretary of State Marco Rubio, Special Envoy Steve Witkoff, and various others, as needed, will be responsible for the negotiations — They will report directly to me. Thank you for your attention to this matter!
SOURCES
Forbes
Report on billionaire investments in Greenland following renewed US political interestBBC
Overview of what is known about Trump’s proposed “framework of a future deal” concerning GreenlandBloomberg Television
Interview with NATO Secretary General Mark Rutte discussing security and geopolitical issues, including GreenlandCNN
Coverage of Trump stating that rare earth minerals are part of his Greenland deal considerationsFortune
Article on a Greenland rare earth mining company whose stock surged after Trump-related developmentsMining Engineering
Analysis of US interest in taking a stake in a company developing a rare earths mine in GreenlandUS Federal Register
Critical minerals are essential for national security
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