Arctic Rare Earths Draw a New "Great Game" - But Can the West Actually Build There?

Highlights

• The Arctic is emerging as a critical minerals battleground where shipping, energy, security, and rare earths converge in a new Great Powers competition.
• REEx identifies four Arctic scenarios: an Allied Corridor, China retaining midstream processing, a Russia-China Northern System, and a Western subsidy trap.
• Greenland's rare-earth potential is constrained by only 93 miles of roads, limited ports, and no operating mine, despite significant geological promise.
• Tanbreez has secured a binding offtake for 15% of planned concentrate production, signaling real but early momentum in Arctic rare-earth development.
• Investors are warned that a world-class deposit multiplied by zero in infrastructure, processing, or logistics still equals zero strategic or commercial value.