AuKing Mining (ASX:AKN) said US President Donald Trump has signaled strong support for critical minerals exploration in Greenland, where the company recently proposed an earn-in acquisition of the high-grade Qeqertaasaq niobum and rare earth elements project, according to a Thursday filing with the Australian bourse.

The company said Qeqertaasaq's rare earth mineralization further strengthens its strategic relevance amid increasing US engagement with Greenland's critical minerals sector.

"Massive Oil, Gas, and Mineral Exploration is getting ready to begin in our new and beautiful Greenland!," Trump said in a Wednesday social media post.

AuKing Mining said Xploration Services Greenland has been engaged to undertake exploration activities at Qeqertaasaq.

The company's shares closed over 15% lower on Thursday amid broader weakness in the materials sector.