The chapter analyses the licenses for mineral exploitation in Greenland and their regulatory framework. In particular, it focuses on the possible right of the grantor of the license (the Greenland authorities) to make subsequent changes to the license. It is shown that the license is a private-public hybrid, and this impacts the right to make variations. It is concluded that the regulatory framework concerning mineral exploitation licenses in fact involves a considerable amount of uncertainty for investors. However, in contrast to what may be the case in other jurisdictions, many of the possible uncertainties involved in an investment project in Greenland are made clear at the outset to the potential investors.