Colorful houses on the island of Uummannaq GreenlandUummannaq is located 590 kilometres north of the Arctic Circle.
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President Donald Trump's surprising suggestion to buy Greenland has been rejected by the country's foreign ministry.
The Wall Street Journal reported Thursday that Trump has on more than one occasion, and with "varying degrees of seriousness," floated the idea of buying the autonomous Danish territory.
Dampening down the prospect of the country's sale in a post on Twitter, Greenland's Ministry of Foreign Affairs official account said Friday: "We're open for business, not for sale."
Situated in the north Atlantic, Greenland is seen as an increasingly strategic location as melting ice opens up fresh shipping routes in the Arctic region. The land mass is also considered to be rich with coal, zinc, copper and iron ore.
Trump is reportedly not the first U.S. leader to consider buying Greenland. It is claimed that in 1946, Harry Truman offered Denmark $100 million for the territory and was willing to throw in parts of Alaska to sweeten the deal.
Republican Representative Mike Gallagher has chimed in, describing Trump's reported idea as a "smart geopolitical move."
"The United States has a compelling strategic interest in Greenland, and this should absolutely be on the table," he tweeted.
Other Twitter reaction has been less serious. ITC markets predicted some out of character real estate development would result from any sale.
Greenland is officially a Danish territory. The U.S. president is scheduled to visit Denmark on September 2.
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