Consider the following statements regarding Greenland's strategic importance:
Statement-I: The USA is planning to enhance its presence in the region.
Statement-II: China has established its presence in Greenland through the Polar Silk Road initiative.
Statement-III: Greenland has 23 out of the 34 classified rare earth minerals.
Which one of the following is correct in respect of the above statements?
1
Both Statement-II and Statement-III are correct and both of them explain Statement-I.
2
Both Statement-II and Statement-III are correct, but only one of them explains Statement-I.
3
Only one of the Statements II and III is correct and that explains Statement-I.
4
Neither Statement-II nor Statement-III is correct.