Nuuk, Greenland - Greenland on Wednesday contradicted a statement by President Donald Trump about imminent extensive exploration of oil, gas, and mineral deposits on the Arctic island.

Jørgen Hammeken-Holm, Greenland's deputy mining minister, acknowledged to CNN that there was activity by US companies.

But he stressed to the network: "We are very far away from 'massive' exploration." Many smaller exploration projects are underway, but it could take "years" before they become operational, Hammeken-Holm said.

Earlier on Wednesday, Trump posted on his Truth Social platform that "massive oil, gas and mineral exploration is getting ready to begin" in Greenland. He referred to the Arctic island, which is an autonomous territory of Denmark, as "our new and beautiful Greenland."

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Trump also claimed experts believe the amount of easily accessible oil in Greenland is far greater than in almost any other area of the world. In fact, resource extraction on the island has long been considered difficult.

Ahead of the November 3 midterm elections, Trump's Republicans are under intense pressure from fuel prices that have risen as a result of his Iran war.

In September, the US, Denmark, and Greenland signed an agreement on an increased security partnership, appearing to end a dispute over the island that Trump triggered with annexation threats. The agreement modernizes and supplements a defense agreement between Denmark and the US that has existed since 1951.

According to the text published by the White House, oil and gas are not explicitly mentioned in the agreement, but it does refer to cooperation on minerals and on economic development in general.