Is China Concerned About Greenland's Potential for Mining Rare Earth Elements?

China has long enjoyed its supremacy in the rare earths field but lately this position has been challenged by an often over-looked, massive island nation: Greenland.

The Asian giant produces 95% of the world's Rare Earth Elements (REE) supply - a fact that has caused much unease among US law makers - and has never had to face any real contenders, until now. Late last year the industry was buzzing with rumours that Greenland could hold enough of these metals to satisfy one-quarter of global demand over the next 50 years.

A recent visit by Chinese President Hu Jintao to Denmark – Greenland's official hegemon – caused some analysts to speculate that the People's Republic may be getting a little antsy over the country's valuable deposits, Ice News reports.

According to European Commission data, Greenland has "especially strong potential in six of the fourteen elements on the EU critical raw materials list."