The unexpected interest in Greenland from the United States has put a small mining company, Amaroq, firmly in the spotlight. The Canadian firm, which is developing a promising mine project on the Arctic island, has seen its profile rise dramatically in recent weeks.
President Trump’s unorthodox proposal to purchase Greenland from Denmark caught many by surprise earlier this month. While the idea was ultimately dismissed, it has drawn global attention to the resource-rich territory and the companies operating there.
Amaroq, a little-known mining firm based in Vancouver, is one of the key players in Greenland’s nascent extractive industries. The company is advancing the Nalunaq gold mine project, which it acquired in 2015 and is now working to bring back into production.
“The recent geopolitical developments around Greenland have certainly increased awareness of our company and our project,” said Amaroq’s chief executive, John Robins. “It’s an unexpected benefit, but one we’re keen to capitalise on as we progress with our plans.”
Nalunaq was previously operated as an underground gold mine between 2004 and 2013, producing over 350,000 ounces of the precious metal. Amaroq believes significant potential remains, with an estimated 426,000 ounces of gold still in the ground.
The company is currently undertaking a feasibility study to assess the technical and economic viability of restarting mining operations at Nalunaq. If the results are positive, Amaroq aims to commence production within the next two to three years.
“Greenland is hugely underexplored, with vast mineral potential that has barely been tapped,” Robins explained. “As the political environment becomes more stable and the regulatory framework matures, we expect to see a surge of investment and activity in the mining sector.”
Amaroq’s share price has more than doubled since the start of August, reflecting the heightened interest in the company and its Greenland assets. The stock closed at 85 pence on Friday, giving the firm a market capitalisation of £42 million.
While the company’s newfound prominence is welcome, Robins cautioned that Amaroq remains focused on the practical realities of developing a mine in the challenging Arctic environment.
“We’re not getting carried away by the political noise,” he said. “Our priority is to complete the feasibility study, secure the necessary permits and financing, and ultimately deliver a successful mining operation that creates jobs and economic opportunities for Greenland.”
