The White House is assessing the potential cost of governing Greenland as a US territory, according to sources in the know, marking the most tangible step toward turning former President Donald Trump’s interest in acquiring the Danish island into a formal policy proposal.

The analysis includes estimating the cost of providing government services to Greenland’s 58,000 residents, the expenses associated with maintaining Greenland under US control and the potential revenue streams for the US Treasury from Greenland’s natural resources.