An obscure, desolate plateau on the South Western shores of Greenland could transform the future of consumer technology and shift the balance of power in the global supply of rare earth metals. The metals were found beneath the rocks and ice of the llimaussaq Intrusion and currently represents the world’s largest known reserve of rare earth metals. This rare and unique find could challenge the supremecy that China have had over the field metal fabrication with, Beijing being the top gun in the field for many years. Currently, Beijing dominates over 95% of the metal trade. China has nurtured this trade for the last 15 years and have recently started using it as a potent trade weapon with countries from around the world.

According to the mining community, Greenland will have an amazing hand of luck over the coming years as it is currently negotiating sovereignty from Denmark which will mean that any natural materials found in Greenland will be their property alone which will help maximise trade with other countries. The cost of extracting the rare earth metals will be offset by the profits from extracting uranium from the same site, effectively preventing China from undercutting the operation on price, which is how it obtained its dominance over the world market in the first place. The metal will be particularly useful for companies who focus in tube manipulation and steel fabrication so it will be extremely valuable. Rare materials are extremely valuable that the Japanese Government are creating plans to draw up a strategic national reserve to try and compensate for not getting in on the action. With the vast discovery of all of this metal it will become far more transparent and fairly priced therefore the cost of making machinery and such a like will be far cheaper than before. This will surely help the metal trade a considerable amount for the next few years and I am excited to see what change it will bring about.