(Read the full article on mining.com)

Australia’s Greenland Minerals (ASX: GGG) said on Wednesday it was seeking to engage in talks with Greenland’s authorities over its Kvanefjeld rare earth project, as the newly-formed government opposes the development.

According to Mining.com, the uranium and rare earths-rich Arctic island has gained notoriety in the past two years following former US President Donald Trump’s offer to buy it. The move sought to partly help address Chinese dominance of the rare earths market, as the nation accounts for almost 80% of the global mined supply of the elements used in everything from hi-tech electronics to military equipment.