Shares in companies developing Greenland’s energy and mineral resources surged on Wednesday after President Donald Trump said large-scale exploration was preparing to begin, renewing investor interest as the security agreement between Greenland, Denmark and the United States moves through parliamentary scrutiny.
“Massive Oil, Gas, and Mineral Exploration is getting ready to begin in our new and beautiful Greenland!” Trump wrote on Truth Social. Trump also said experts believed Greenland’s easily available oil was “far greater than that of almost any land, anywhere in the World.”
He also emphasized Greenland’s strategic importance to American and European defense, particularly its location for detecting and intercepting potential threats.
In premarket trading reported by Stocktwits at 6:50 a.m. Eastern Time on Wednesday, October 14, Greenland Energy shares were up approximately 57%, Greenland Mines gained 25%, and Critical Metals rose around 7%.
The gains followed an earlier rally on Monday, September 21, after the security agreement was announced. Premarket reports that day recorded Greenland Energy rising more than 150%, Greenland Mines more than 70%, and Critical Metals approximately 27%. Those figures represent trading snapshots, rather than closing gains.
The agreement was formally signed in New York on September 22. It strengthens the framework for defense cooperation and an expanded American military presence in Greenland, while reaffirming the sovereignty and territorial integrity of the Kingdom of Denmark and Greenlanders’ right to self-determination.
Greenland’s approval process remains underway. Inatsisartut held its first reading on October 12, and the proposal has been referred to the Foreign and Security Policy Committee before a second reading, for which the parliamentary agenda currently gives no date as of October 14.
Under the agreement’s entry-into-force provisions, the United States must receive formal diplomatic notification that the necessary parliamentary procedures have been completed by the Kingdom of Denmark together with Greenland.
Companies have welcomed the prospect of greater certainty for investment. “This agreement removes a significant geopolitical uncertainty that has hung over Greenland in the last year,” Greenland Energy Company chairman Larry Swets told The Wall Street Journal.
“Greater clarity and stability make long-term investment more feasible, lower the perceived risk of committing capital, and should help unlock the private investment Greenland needs to develop its resources, infrastructure and economy,” he said.
The WSJ reported that Greenland Energy Company plans to spend $60 million drilling for oil in eastern Greenland.
Greenland Mines also welcomed Trump’s latest comments in a statement on Wednesday, highlighting the potential contribution of its Sarfartoq rare-earth and Skaergaard precious-metals projects to allied supply chains.
“Realizing that potential requires sustained investment, technical execution and close cooperation with Greenland’s authorities and communities,” said company president Bo Møller Stensgaard.
GreenlandEnergy.com provides independent analysis of Greenland’s energy landscape, critical minerals development, and Arctic geopolitics. For corrections or feedback: press@greenlandenergy.com
“This article is for informational purposes only and does not constitute investment advice. GreenlandEnergy.com does not hold positions in the companies mentioned. Readers should do their own research or consult a licensed financial adviser before making investment decisions.”
