A global scramble to exploit the Arctic’s untapped resources appears to be kicking into overdrive.
In a push to break China’s mineral dominance, countries around the world are increasingly turning to the thawing and sparsely populated northern polar region, seeking to seize its raw materials and benefit from new commercial trade routes.
U.S. President Donald Trump, for example, has repeatedly underscored the importance of Greenland, a vast Arctic territory, calling U.S. ownership of the island an “absolute necessity” for economic and national security reasons.
Canada has recently sought to ramp up Arctic investment as part of a push designed to unlock its resource potential, particularly amid strained diplomatic ties with the U.S.
Russia, which has a sprawling Arctic coastline, has long recognized the region as a strategic priority. Indeed, President Vladimir Putin on Tuesday lauded the construction of a new nuclear-powered icebreaker ship to navigate Arctic waters, saying “it’s important to consistently strengthen Russia’s position” in the region.
