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In this aerial view melting icebergs crowd the Ilulissat Icefjord on July 16, 2024 near Ilulissat, Greenland.

Sean Gallup | Getty Images News | Getty Images

Major ice loss from Greenland is exposing the island’s natural resources, inadvertently making some of the world’s largest untapped critical mineral reserves more accessible.

Greenland, a vast but sparsely populated island situated between the Arctic and North Atlantic Oceans, has been transformed by the climate crisis in recent decades.

A major analysis of historic satellite images, published last year by researchers at the U.K.’s University of Leeds, showed that the autonomous Danish territory is turning increasingly green due to human-caused global warming.

The changing environment has seen parts of Greenland’s ice sheet and glaciers replaced by wetlands, areas of shrub and barren rock.

Scientists have repeatedly sounded the alarm over the melting snow and ice on the island, warning the loss of ice mass risks increased greenhouse gas emissions and rising sea levels.

For mining companies, Greenland’s ice retreat could facilitate the start of a mineral “gold rush.”

Landscape, on the Drygalski Peninsula, with icebergs in the Uummannaq Fjord System in the northwest of Greenland, north of the polar circle.

Reda | Universal Images Group | Getty Images

“What’s happening now is interesting because the waters around Greenland are opening up earlier and earlier each year and closing down later and later each year. And the ability to get into these far-flung places is a lot easier than it was 20, 30, 40 or 70 years ago,” Roderick McIllree, executive director of U.K.-based mining company 80 Mile, told CNBC via video call.

“Now, the ice probably only really forms for three or four months in the very northern latitudes and the rest of the country is seeing receding ice caps that is exposing rocks and potential mineral deposits that haven’t been seen before,” he added.

80 Mile currently has three projects it is actively developing in Greenland, including a large oil concession on the island’s east coast, a titanium project near the U.S. Pituffik Space Base in the northwest and its Disko-Nuussuaq project in the southwest.

Underlining the island’s strategic potential as a globally significant mining hub, McIllree said the firm’s Disko project could be one of the largest occurrences of nickel and copper on the planet.

A geopolitical storm

Tony Sage, CEO of Critical Metals Corporation, which is developing one of the world’s largest rare earth assets in Greenland, said ice melt on the island had done the mining company “enormous favors” from a logistical standpoint.

Sage said the company had been able to bring in large ships directly from the North Atlantic “right up to the edge of our ore body” at Tanbreez in southern Greenland, adding that the creation of fjords 80 meters deep meant the team had been able to make use of a floating dock rather than a port.

A boat carrying tourists manoeuvres among icebergs floating in Disko Bay, Ilulissat, western Greenland, on June 30, 2022.

Odd Andersen | Afp | Getty Images

“You can imagine, it’s easier now to do these things. If you go into Russia, for example, in Siberia, it’s under a lot of permafrost and ice and they still manage to mine a lot of minerals, as well as oil and gas. So, yes, there will be a mini gold rush into Greenland,” Sage told CNBC via video call.

Alongside Greenland’s harsh climate, remote landscape and small population, Sage highlighted a lack of infrastructure as a barrier for mining companies to overcome.

“It’s just logistics. The Danes never built a railway [and] didn’t build any roads,” Sage said.

“Once you’re outside of these little towns and cities, there are no roads. So, if you want to go in between, for example, Qaqortoq, where we are, to Nuuk, you have to take a helicopter. So, that is the issue that you’ll have with a gold rush,” he added.

Greenland, which has long pitched itself as a Western alternative to China’s near monopoly on rare earth elements, has been thrust into the center of a geopolitical storm in recent weeks.

U.S. President-elect Donald Trump has repeatedly expressed his desire to gain control of the territory, describing the prospect as an “absolute necessity” for purposes related to national security.

Speaking at a news conference earlier in the month, Trump refused to rule out the possibility of using military force to make Greenland a part of U.S.

Greenland Prime Minister Mute Egede said Monday that the island is open to closer ties with U.S., particularly in areas such as mining. Egede has previously insisted Greenland is “not for sale” and called for the international community to respect the island’s aspirations for independence.

Early stages

Jakob Kløve Keiding, senior consultant at the Geological Survey of Denmark and Greenland (GEUS), said a 2023 survey of Greenland’s resource potential evaluated a total of 38 raw materials on the island, the vast majority of which have a relatively high or moderate potential.

These materials include the rare earth metals graphite, niobium, platinum group metals, molybdenum, tantalum and titanium. Greenland is also known to have significant lithium, hafnium, uranium and gold deposits.

Critical minerals refer to a subset of materials considered essential to the energy transition. The end-use of these materials, which tend to have a high risk of supply chain disruption, are wide-ranging and include electric vehicle batteries, energy storage technologies and national security applications.

A woman looks out from a tour boat as it sails away from a glacier between Maniitsoq and Sisimiut, west coast of Greenland on September 4, 2024.

James Brooks | Afp | Getty Images

“There is huge potential [in Greenland] but, at the moment, there is not actually much mining going on,” Keiding told CNBC via telephone.

“Greenland is what we would call a greenfield exploration area. So, [it is] in the early stages of exploration where, for many of the deposits, we don’t have that much data. But there are some large and well-established deposits with known resources.”

Keiding issued a note of caution when asked about the prospect of a mineral gold rush, saying that while Greenland’s retreating ice may remove some logistical hurdles, progress in terms of extraction will likely take “quite some time.”

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BYD just launched the world’s largest car carrier to charge up its global EV ambitions

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BYD just launched the world's largest car carrier to charge up its global EV ambitions

The BYD Shenzen, its new ro-ro ship that can carry 9,200 vehicles, has officially undocked. BYD’s new car carrier is the world’s largest as the EV giant aggressively expands overseas. After sales surged last year, the Chinese EV leader looks for even more global market share in 2025.

BYD Shenzen undocks as the world’s largest car carrier

BYD sold a record 4.25 million new energy vehicles (NEVs) last year, over 40% more than it did in 2023. That includes electric vehicles (EVs) and plug-in hybrids (PHEVs).

Although several automakers have yet to release full-year sales results, BYD is expected to outsell several global auto leaders, such as Ford, Honda, and Nissan. Meanwhile, this year could be even bigger for China’s largest automaker.

According to a new report from China News Service (via IT Home), the BYD Shenzen, the company’s fourth ro-ro (roll-on/Roll-off) ship, finished undocking and is ready to set sail.

BYD’s new car carrier is the world’s largest, capable of transporting up to 9,200 vehicles. Since 2024, BYD has launched four ro-ro ships as it expands into new overseas markets.

The first, the BYD Explorer No 1, was launched in January 2024. It has already completed several trips to Europe, including Spain and Germany, and also docked in Brazil.

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BYD Explorer No 1 unloading cars in Brazil (Source: BYD)

BYD’s second (BYD Changzhou) was put into operation in early December 2024, followed by the BYD Hefei, which set sail last week. All three can carry up to 7,000 vehicles.

The Hefei hit the seas last week, carrying 5,000 NEVs. BYD said the vessel will “accelerate the internationalization process of China’s new energy vehicles.”

BYD-World's-largest-car-carrier
BYD Hefei sets sail for Europe carrying nearly 5,000 new energy vehicles (Source: BYD)

The BYD Shenzen, named after its hometown, is not only the world’s largest but also the most environmentally friendly. According to the report, the new ship includes BYD box-type battery packs and shaft-belt generators for the first time.

Electrek’s Take

BYD has already entered 100 countries and regions globally, but it’s poised for even more growth in 2025. After producing over 1.77 million vehicles last year, BYD topped Tesla by about 4,500 units to become the world’s largest EV maker.

Meanwhile, Tesla delivered slightly more fully electric vehicles, with 1.78 million in 2024, compared to BYD’s 1.76 million.

With an influx of new rivals in China, BYD is aggressively expanding into new overseas. After entering Japan in 2023, a market dominated by domestic automakers, BYD sold more EVs than Toyota in 2024.

After launching its first EV in South Korea this week, starting at just over $20,000, BYD will now challenge Hyundai and Korea on their home turf.

BYD’s growing presence is forcing legacy automakers to take drastic actions to keep up. After falling behind, Japan’s Nissan and Honda are now teaming up on EVs to fend off BYD’s surge.

In Thailand, or the “Detroit of Asia,” as it’s called, Japanese automakers have watched their market share fall from 90% to just 76% over the past two years amid BYD’s growing presence.

With new vehicles launching in Mexico, Brazil, Europe, Singapore, Thailand, and many more regions this year, BYD is poised for more growth in 2025.

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Rivian (RIVN) stock rises as Volkswagen plans to expand $5.8 billion EV partnership

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Rivian (RIVN) stock rises as Volkswagen plans to expand .8 billion EV partnership

Rivian’s (RIVN) stock is trending on Friday after Volkswagen CEO Oliver Blume hinted at expanding upon their new EV partnership. Volkswagen’s boss said the company could offer “great opportunities” for Rivian. Here’s what the new plans could include.

Rivian stock climbs on Volkswagen EV partnership plans

After launching their new joint venture in November, “Rivian and VW Group Technology, LLC,” Volkswagen is already looking to expand its partnership with the EV startup.

Blume told German news outlet Spiegel that “The Volkswagen Group offers great opportunities for a small brand like Rivian” on Friday. For example, Volkswagen’s head honcho said, “We are thinking about sharing modules and bundling purchasing volumes.”

Volkswagen already plans to invest up to $5.8 billion in the collaboration, which, according to Rivian CEO RJ Scaringe, is a “meaningful financial opportunity.”

So far, the partnership is mainly software support. Rivian is using its software expertise to develop a new EV architecture to power up new SDV (software-defined) electric vehicles.

Rivian already uses the platform and software stack, which consists of seven control units. Volkswagen models typically have over 100 of these units. The next steps could involve a joint purchase, deepening the VW/ Rivian EV alliance.

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Rivian R1T (left) and R1S (right) electric vehicles (Source: Rivian)

The architecture is designed to cut costs and speed up output. According to the report, a new ultra-luxury three-row Porsche electric SUV, codenamed “K1” internally, and the electric Golf successor will be among the first EVs to feature the new architecture.

Audi, Porsche, and the upcoming Scout brand for the US will use the new tech. Scout will launch an off-road electric SUV and pickup built at Volkswagen’s new plant in South Carolina from 2027.

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Rivian’s next-gen R2, R3, and R3X (Source: Rivian)

The news comes after Rivian closed a loan agreement with the US Department of Energy (DOE) on Thursday for up to $6.6 billion in funding for its new EV plant in Georgia.

Rivian’s second manufacturing plant will house its midsize R2 and R3 electric models. The smaller, more affordable electric SUV and crossover will also benefit from the Volkswagen alliance.

Rivian-Stock-Volkswagen-partnership
Rivian (RIVN) stock price January 2024 through January 2025 (Source: TradingView)

On Friday, Rivian stock trended up over 5% after Volkswagen’s Blume hinted at expanding the new EV partnership. Since reporting third-quarter earnings in November, RIVN shares are up over 57%. However, they are still down nearly 10% over the past 12 months.

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Imported Tesla Cybertruck is seized by police in the UK, deemed dangerous and not legal

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Imported Tesla Cybertruck is seized by police in the UK, deemed dangerous and not legal

Police have seized an imported Tesla Cybertruck in the UK as it is not road-legal in the country and deemed dangerous for pedestrians.

Tesla has always known that its Cybertruck design would be complicated to get homologated in other markets than North America, where the rules are similar between the US, Canada, and Mexico. The company admitted that it might limit the markets where Cybertruck would be sold, which is why Tesla doesn’t plan to expand beyond current markets.

However, it hasn’t stopped people from privately importing Cybertrucks to their home markets.

We have seen two Cybertrucks traveling through Europe, and they were stopped at Lithuanian customs due to suspicions that they were going to Russia.

Sure enough, Russian warlord and Chechen ruler Ramzan Kadyrov took delivery of Cybertrucks and outfitted them with machine guns a few months later and then claimed that they joined the war effort in Ukraine.

Other Cybertrucks made their way to other markets like China.

Now, we learn that one has made it to the UK, but it didn’t last long.

The Greater Manchester Police (GMP) announced that the seized the Cybertruck pictured above that was roaming the streets in the UK illegally. They wrote on social media:

Whilst this may seem trivial to some, legitimate concerns exist around the safety of other road users or pedestrians if they were involved in a collision with the Cybertruck.

Tesla had brought the vehicle in the UK, but only for demonstration. It never tried to make it legal in the country.

The police added:

The Tesla Cybertruck is not road-legal in the UK and does not hold a certificate of conformity.

The authorities said that the Cybertruck was registered and insured abroad, but the driver was a UK resident. They will have to show prove of ownership and insurance to release the vehicle.

Electrek’s Take

The authorities are clearly right here since the vehicle is not road-legal currently, but could it be road-legal? It’s hard to say.

The police here repeat claims that the Cybertruck might be dangerous for pedestrians in crashes. That has been a concern that has often been raised since the truck launched in 2023.

It looks obvious based on the design of the Cybertruck. However, we haven’t seen third-party crash testing of the Cybertruck yet, and it might take a while before we do.

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