Small-cap miners that may benefit from the White House's interest in Greenland

At the World Economic Forum in Davos on January 21, Donald Trump said the U.S. sought to obtain “right, title and ownership” of Greenland, stressing, however, that he did not intend to act with force. The U.S. president has also canceled a threatened imposition of a 10% tariff on eight European countries that supported Denmark and opposed any expansion of U.S. control over the island (note that Greenland is an autonomous territory within the Kingdom of Denmark). Trump has repeatedly explained his interest in Greenland on grounds of national and international security.

In the near term, critical minerals are playing a decisive role in U.S. decision-making, according to analysts at Deutsche Bank (their report has been seen by Oninvest). Greenland is rich in minerals that are strategically important for defense, high-tech industries, and green energy. Around 1.5 million tons of rare earth elements are concentrated on the island, along with significant reserves of other strategic minerals, Deutsche Bank notes. At the same time, China controls about 95% of global rare earth production, while Europe has almost no domestic mining capacity. Greenland, by contrast, holds large but still underdeveloped reserves, European Capital Insights says.

The situation around Greenland remains tense. An outright seizure appears unlikely, but U.S. pressure is expected to continue through economic and diplomatic channels. Against this backdrop, the island is increasingly viewed as a platform for Western resource projects, including those involving small-cap companies.

Analyst Aldiyar Anuarbekov examined for Oninvest which small caps could benefit from growing U.S. and European interest in Greenland’s resources.

Critical Metals

Critical Metals (CRML) is a direct beneficiary of interest in Greenland’s resources through its Tanbreez project, which the company estimates could contain up to 27% of global heavy rare earth reserves. While the project has not yet entered commercial production, the company has already contracted 100% of its future output by early 2026, including deliveries to partners in the U.S., Europe, and the Middle East.

Critical Metals is building a rare earth supply chain independent of China — with mining in Greenland, processing in the Middle East, and end demand in the U.S. Rising geopolitical tensions have increased the strategic importance of the Tanbreez project. The company’s shares rose by more than 20% in a single trading session on January 22, and are up almost 200% year to date. On January 20, Clear Street maintained a “buy” rating on the stock and raised its target price from $14 to $20 per share, which roughly corresponds to the current share price.

AnorTech

AnorTech (ANOR), a Canadian micro cap, is focused on developing anorthosite from Greenland as a raw material for innovative and environmentally friendly products. The company owns 100% of the Gronne Bjerg project near Nuuk, which is characterized by high alumina content and low iron impurities. Following field work in 2025, AnorTech expanded its resource base and expects to complete an environmental impact assessment in 2026, after which it plans to apply for an exploitation license.

Interest in AnorTech is reinforced by its track record. The company previously participated in the development of the Sarfartoq rare earth project and retained a 5% stake after its sale to Neo Performance Materials, a producer of rare earth materials and magnets. AnorTech could benefit both from its continued exposure to Sarfartoq and from rising demand for anorthosite, positioning it as a potential beneficiary of increased U.S. and EU investment in Greenland.

Since the beginning of the year, AnorTech shares have doubled. Trading remains illiquid, and the company is not covered by analysts. By contrast, Neo Performance Materials (NEO.TO) carries a “buy” consensus rating, with an average target price of CAD24.88 per share, implying upside of about 33.4% from current levels.

GreenRoc Strategic Materials

GreenRoc Strategic Materials (GROC) is developing high-quality graphite at the Amitsoq project in southern Greenland. Graphite is designated as a critical raw material by both the EU and NATO due to its importance for lithium-ion batteries, electronics, and defense applications. The Amitsoq project has advanced from exploration to development. In December, GreenRoc was granted a 30-year mining license, reflecting accelerating momentum in Greenland’s mining sector amid rising demand for materials tied to the energy transition. Heightened geopolitical tensions could further increase Western interest in the project as part of broader energy and industrial security efforts.

Amitsoq is included in the European Raw Materials Alliance and was designated a strategic project under the EU’s Critical Raw Materials Act in 2025, which underscores its role in reducing Europe’s dependence on Chinese graphite. The project’s high-grade ore and plans to produce up to 80,000 tons of concentrate per year are backed up by government support. In October, Denmark’s export and investment fund EIFO provided GreenRoc with a EUR5.2 million soft loan.

GreenRoc shares surged on the news. On the day the loan was announced, the stock rose as much as a quarter, which took its market capitalization to GBP7.5 million. Since the beginning of the year, the shares are up more than 30%.

Amaroq Minerals

Amaroq Minerals (AMRQ) is a diversified gold producer whose core asset is the Nalunaq gold mine in southern Greenland. The mine produced 6,600 ounces of gold in 2025. Amaroq also controls the largest portfolio of exploration licenses in the country, including base metals and rare metals projects. The company’s scale has attracted investor interest. A heavily oversubscribed equity offering in 2025 lifted its market capitalization above $800 million.

In early January, Amaroq said it was in talks with U.S. government agencies about potential investments in its Greenland projects, ranging from infrastructure funding to off-take agreements and credit lines, CEO Eldur Olafsson said. 

Since the beginning of the year, Amaroq shares in London are up more than 35%. Analysts at Panmure Liberum and Canaccord Genuity rate the stock “buy” and “speculative buy,” respectively, with target prices of GBX160 and GBX150 per share, implying upside of 16% and 9% versus the current share price.

This material does not constitute individualized investment advice.