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Shares of U.S.-listed companies exposed to Greenland surged on Monday after the U.S. and Denmark reached a deal on security arrangements on the Arctic territory. Shares of Greenland Energy soared 159%, with Greenland Mines seen up more than 200% and Critical Metals Corp nearly 37% higher. The agreement, which is expected to be signed during the United Nations General Assembly this week, will see the U.S., Denmark and Greenland enter into a pact to develop a significant military presence on the territory, while blocking Washington's adversaries from building their own bases there. It follows several months of U.S. President Donald Trump's threats to annex the self-governing Danish territory, with the president insisting Greenland is critical to U.S. national security. Announcing the deal, Trump said via Truth Social on Friday that the U.S. would "FOREVER have the complete ability to do what is necessary in Greenland in order to secure and defend the security of Greenland, and the United States of America." Trump said the agreement would come at no cost to the U.S., adding that Washington would "immediately begin the process of developing a large Military presence in the appropriate part of Greenland, of which there are many." Key details of the agreement have not yet been made public. Greenlandic and Danish officials sought to reassure citizens over the weekend that the deal would respect the island's right to self-determination and the sovereignty of the Danish kingdom. "It is joyous that we are about to make an agreement that will ensure and strengthen the security of Greenland, the Kingdom of Denmark, the United States and the Western Alliance," Greenland's Prime Minister Jens-Frederik Nielsen said in a statement. "The agreement recognizes Greenland's interests and our place in the international cooperation. It is to the benefit of us all," he added. Greenland Energy is an oil and gas exploration firm focused on trying to unlock the hydrocarbon potential of the Jameson Land Basin on the island's east coast. The Texas-based company, which has links to Trump, recently delayed plans to drill for oil in Greenland after the island's government issued a "strong warning" to its joint venture partner for bringing equipment ashore without permission. Greenland Mines, meanwhile, is a natural resources company working on the Skaergaard Project, which ranks among the world's largest undeveloped palladium, gold and platinum deposits. Critical Metals Corp, for its part, is a mining company focused on critical metals and minerals and is developing the Tanbreez rare earths mine in southern Greenland.
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