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Trump's Greenland Deal Aims to Secure Arctic Resources
Confirmed
In Short: Greenland's strategic location and resources have drawn increased attention from the U.S., particularly amid global energy supply vulnerabilities.
The agreement, signed on the sidelines of the U.N. General Assembly, aims to strengthen U.S. security and investment in Greenland, a territory rich in critical minerals and potential oil reserves.
Robert Price, CEO of Greenland Energy Company and president of USFM Corporation, said the deal could bolster long-term investment in Greenland.
Price's companies are pursuing separate oil and mineral projects in Greenland, including plans to drill an exploratory oil well in 2027 and ongoing mineral exploration in the island's west.
The deal also aims to prevent adversaries like China and Russia from establishing military bases or making sensitive investments in Greenland without U.S. approval.
Denmark and Greenland have insisted that the agreement respects Greenland's sovereignty and does not compromise its autonomy.
The EU has also stepped up its partnership with Greenland, signing a declaration promising a $232 million investment package to strengthen cooperation.
The EU's move comes in response to Trump's repeated threats to annex Greenland, which have strained relations with NATO allies.
NATO launched a new mission to bolster Arctic security, coinciding with the start of NATO's Arctic Shield military exercise involving about 400 military personnel.
Some residents in Greenland's capital, Nuuk, remain skeptical about closer ties with the U.S., fearing potential loss of sovereignty.
The exact details of the agreement, including the scale of U.S. military presence and formal power over foreign policy and resources, have not been fully disclosed.
What this adds
The deal is intended to secure Greenland's resources and strategic location, but the extent of U.S. control remains unclear.
The EU's investment package aims to soothe anxiety caused by Trump's threats and strengthen cooperation with Greenland.
The Arctic Shield military exercise involves soldiers from 11 NATO countries and runs from September 7 to 18.
Background
Andy Burnham praised a deal between the US and Denmark over Greenland's security, ahead of his first meeting with Trump at the UN General Assembly.
What's confirmed
- The agreement, signed on the sidelines of the U.N. General Assembly, aims to strengthen U.S. security and investment in Greenland, a territory rich in critical minerals and potential oil reserves.
- Robert Price, CEO of Greenland Energy Company and president of USFM Corporation, said the deal could bolster long-term investment in Greenland.
- Price's companies are pursuing separate oil and mineral projects in Greenland, including plans to drill an exploratory oil well in 2027 and ongoing mineral exploration in the island's west.
- The deal also aims to prevent adversaries like China and Russia from establishing military bases or making sensitive investments in Greenland without U.S. approval.
- Denmark and Greenland have insisted that the agreement respects Greenland's sovereignty and does not compromise its autonomy.
- The EU has also stepped up its partnership with Greenland, signing a declaration promising a $232 million investment package to strengthen cooperation.
- The EU's move comes in response to Trump's repeated threats to annex Greenland, which have strained relations with NATO allies.
- NATO launched a new mission to bolster Arctic security, coinciding with the start of NATO's Arctic Shield military exercise involving about 400 military personnel.
- Some residents in Greenland's capital, Nuuk, remain skeptical about closer ties with the U.S., fearing potential loss of sovereignty.
- The exact details of the agreement, including the scale of U.S. military presence and formal power over foreign policy and resources, have not been fully disclosed.
What's still developing
- "One of the reasons that we are exploring for oil in Greenland is because of what's going on in the Strait of Hormuz right now," Robert Price, CEO of Greenland Energy Company and president of USFM Corporation, told Fox News Digital.
- Trump announced an agreement with Denmark and Greenland on Friday that would expand the U.S. military presence on the island while keeping Greenland under Danish sovereignty.
- Price's USFM has been drilling around Disko Island in western Greenland for nickel, copper, palladium and cobalt, commodities used in electronics, batteries, energy and manufacturing.
- Its licenses are on Greenland's eastern side, where Price said the geology resembles the petroleum-producing North Sea.
- President Donald Trump's persistent interest in Greenland has put a spotlight on what lies beneath the vast Arctic island, including potentially valuable deposits of critical minerals and oil.
- The focus on obtaining control and influence in Greenland, which also has a highly strategic location in the world, comes as wars in Ukraine and Iran expose vulnerabilities in global energy supplies and the U.S.
- “I think they’re going to make a deal, and I don’t want to say what the deal is,” Trump said on Tuesday.
- “The relationship is very strong, and with Europe it’s very strong,” he said, citing the recent landmark security deal with Greenland on Tuesday as “something very special. Really, they can be proud of themselves, regardless of what happens,” he continued.
- “We talk about it a lot, including with President Putin, and I think something’s going to happen.” President Trump says negotiations over the Iran conflict could lead to a deal, but warned that the alternative could have serious consequences.
- “But certainly, it’s to their advantage to make a deal.” Trump then described the relationship between Washington and Ukraine as “very strong” as well, noting that the strength extends across Europe as a whole.
- Updated on: September 11, 2026 / 5:43 PM EDT / CBS News Washington — The Justice Department has reached a tentative plea deal with a former CIA official who was found with more than $40 million worth of gold bars in his home in May, according to a court filing Friday.
- The US, Denmark and Greenland said late last night they had reached an agreement for the US to develop a significant military presence on Greenland, while prohibiting US adversaries from building their own bases on the island.