Greenland has recently received a lot of media attention after the US showed interest in the region. But why is a territory that is 80% covered in ice attracting so much global attention? The interests range from logistics to the potential mineral resources present in the region, which are beginning to be considered due to global warming. Curious?
Let's start by understanding more about this territory and the origins of these interests. Greenland is an autonomous territory of Denmark located in North America. Its proximity to the Arctic Circle means that the territory is bathed by the Arctic Ocean and has very cold temperatures due to the influence of the polar climate. Its low temperatures are the reason why most of the region is covered by an extensive layer of ice, which is why its population of 57,000 inhabitants lives on the coast.
Therefore, it is understood that it is an extremely cold region, dominated by ice, but will it remain so? Many are familiar with the phenomenon of global warming, which has been causing an increase in the planet's temperature. One of the consequences is the rise in ocean temperatures and also the melting of polar areas. While this situation causes global impacts such as rising sea levels, for the region it can be beneficial, which we will analyze below in the context of economic interests in the region.
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A Future Logistics Powerhouse
The main interest in the Greenland region, I believe, is because it is a future logistics powerhouse. If the global warming situation does not improve, it is possible that the seas around Greenland will begin to melt to the point that icebreaker ships can pass through easily.
Due to its location, Greenland is close to Canada, the USA, Russia, and also Europe, serving as a point of contact between different locations. The new maritime routes that would emerge could revolutionize global logistics.
Green+Land = Agriculture and Fishing
The very name Greenland is related to this third interest. If you separate the name, we have Green and Earth, meaning a Green Earth. With the region beginning to thaw, there will no longer be ice preventing the development of vegetation, making it quite possible that the entire area under the ice will eventually become a large arable region in the future, thus relating to its name, a large green area for agriculture.
Now, leaving the future aside and talking about the present, most of Greenland's economy comes from fishing, and this will continue to be true, even in the future. This is because the region has access to both the Atlantic Ocean and the Arctic Ocean, making them major exporters of fish and crustaceans.
Underexplored Mineral Resources
Although most of the economy revolves around fishing, the mineral resources sector is noteworthy. The European Union has identified 25 of the 34 minerals on its list of essential raw materials, and among them are the "rare earth" minerals. Besides the climate and the vast expanse of territory covered by ice, another problem is the infrastructure; there are no major roads, the longest being only 35 km, which hinders the exploration of new mines.
The Uncertain Scenario of Greenland
While there are interests in various areas, if you stop and analyze calmly, there are many "IFs". The economy deals with scenarios, and as you could observe, a large part of the points mentioned above depend on the ice melting, and for that to happen, the issue of global warming would have to continue and nothing would be done, which would cause a series of impacts around the world. Furthermore, if the ice were to reduce, there would be a new need to conduct studies on land and sea to verify whether everything that was expected from the large mineral reserves was true or not.
