As Donald Trump Jr flew to Greenland, Amaroq Minerals was higher than ever. The president-elect’s eldest son landed in the capital Nuuk on a ‘personal day-trip’ hours after his father repeated his wish for the US to take control of the autonomous Danish territory.
Trump, who takes office later this month, is unhappy that about 90 per cent of the world’s supply of certain minerals critical to the manufacture of electric car batteries rests in the hands of Russia and China. He sees Greenland’s reserves as key to redressing that imbalance, pledging to ‘make Greenland great again’.
Mining group Amaroq, backed by Louis Bacon, the billionaire founder of hedge fund Moore Capital, owns strategic mineral reserves as well as gold projects in Greenland. Its shares, already 38.5 per cent higher last year, making it one of Aim’s best-performing miners, advanced a further 3.4 per cent, or 3.5p, to a record 107p, valuing Amaroq at more than £410million.
Donald Trump Jr landed in Greenland on a ‘personal day-trip’ hours after his father repeated his wish for the US to take control of the autonomous Danish territory. But other miners were unsettled by Trump, who poured cold water on a report that his tariff plans could be scaled back. Rio Tinto slipped 1 per cent, or 48p, to 4665.5p on another lacklustre day in London.
