In response to Trump's comments, CEO Daniel Mamadou of Kvanefjeld license holder Energy Transition Minerals, said: "I think it certainly puts everything related to minerals back on the map."
Kvanefjeld is among the world's top three rare earth deposits outside China, capable of supplying up to 15% of global production of the critical components used in manufacture of consumer electronics and weapons, according to Mamadou.
However, the project's development was halted four years ago following the election of the Inuit Ataqatigiit party, which had pledged to stop the Kvanefjeld project due to its uranium content and proximity to populated areas.