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Amaroq accelerates Greenland’s mineral development

With a strong base in South Greenland and a growing presence further west, Amaroq is positioning itself at the forefront of a new era in Greenlandic mining.

As Greenland’s largest licence holder, Amaroq is actively converting the country’s vast geological potential into tangible results. The company’s portfolio spans much of South Greenland – from the gold-rich Nanortalik Belt to the Sava Copper Belt and the Gardar Province – and includes gold, copper, nickel, titanium and vanadium.

It also covers several rare earth elements increasingly in demand across Europe and North America, particularly from a geopolitical perspective.

We see Greenland as a new frontier for the Western world’s supply security,” says CEO Eldur Olafsson of Amaroq.

“Our goal is to develop these resources responsibly and build a stable supply chain of strategic minerals for markets seeking to reduce their dependency on countries such as China.”

CEO Eldur Olafsson of Amaroq presenting a gold bar in connection with the company’s work at Nalunaq and its other gold projects in South Greenland.

From gold to green energy

The company’s flagship project is the Nalunaq mine, where first gold was poured in late 2024. After a year of construction, logistics and commissioning, the mine is now approaching full operational capacity in 2026. Amaroq has established permanent facilities, a modern base camp and new shift systems to ensure efficient staffing despite the remote location.

In 2025, Amaroq also launched its Single Mine Origin–certified gold, guaranteeing full traceability from mine to market.

“This initiative is designed to make Greenlandic gold a benchmark for transparency and responsible extraction,” says Eldur Olafsson.

The next step is expanding westwards, where Amaroq has acquired the former Black Angel zinc, lead and silver mine, establishing a new regional hub. Here, the knowledge gained at Nalunaq will be used to restart production and advance new resource opportunities.

“At the same time, we are investing in a 1 MW hydropower plant near Nalunaq to reduce diesel consumption and eventually provide energy benefits to the surrounding communities. It’s a key element in strengthening local relationships and integrating renewable energy into our future projects,” Eldur Olafsson explains.

Local engagement and developing new skills

Roughly half of Amaroq’s employees are Greenlandic, and the company is actively building local capacity through training, education and long-term employment opportunities.

“Our success must be measured by how much value we leave in Greenland,” says Eldur Olafsson.

This philosophy is also embedded in the company’s Impact Benefit Agreement with the municipality and the Government of Greenland – a formal framework ensuring that mining benefits are shared with local communities.

To support the wider mining sector, Amaroq has also established Suliaq ApS, a specialised service company providing drilling equipment, marine vessels and camp infrastructure to both Amaroq and other operators.

“When we first came to Greenland, we had to build our own infrastructure. Today, we can make it available to others,” says Eldur Olafsson.

“It’s a natural next step in maturing the sector.”

A new standard for Arctic mining

With a combination of strong local partnerships, technical expertise and a clear commitment to renewable energy, Amaroq is helping to define a new standard for mining in the Arctic – one that is sustainable, transparent and directly beneficial to Greenland.

But according to Eldur Olafsson, this is only the beginning.

“The coming years will show how Greenland can become a global player in the green transition – on Greenland’s own terms,” he predicts

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