Greenland Resources has signed binding long-term offtake agreements with major steel producers Outokumpu and SSAB. The company also noted the strategic importance of its Malmbjerg molybdenum project following a new defence agreement between Greenland, Denmark, and the US.
Greenland Resources has successfully completed its expanded summer field program in Greenland, focusing on geotechnical, geophysical, and engineering survey work. The program included the collection of 8 tonnes of diamond drill core and water for upcoming metallurgical pilot plant testing of molybdenum, magnesium, and rare earth elements.
Greenland Resources has received a non-binding Letter of Intent from the Nordic Investment Bank (NIB) for potential funding of up to US$120 million. This follows previous interest from Export Development Canada (EDC) for up to US$275 million to support the Malmbjerg molybdenum project in Greenland.
Greenland Resources has received final approval for a $7 million non-repayable contribution from the Government of Canada to fund metallurgical research. The program will evaluate the feasibility of processing molybdenum using saline and fresh water to recover magnesium and rare earth element by-products.
Greenland Resources has commenced detailed engineering and a 2026 field program at its Malmbjerg project in Greenland to prepare for preconstruction. The program includes an aggressive metallurgical campaign to evaluate the recovery of magnesium and rare earth elements as byproducts. The company is also undergoing due diligence for a potential €50 million investment from the European Innovation Council.
Greenland Resources has joined the BOREAS robotic mining project in partnership with Luleå University of Technology, receiving a €489,125 EU grant. The company also restated key economics for its Malmbjerg molybdenum project, including 245 Mt of Proven and Probable Reserves at 0.176% MoS2.
Greenland Resources has successfully passed the eligibility assessment for a €50 million equity investment via the EIC STEP scheme, with €40 million in co-investment commitments already secured. The funding is intended to support the construction of the Malmbjerg molybdenum project in Greenland, which is recognized as a priority EU project.
Greenland Resources has signed a binding eight-year off-take agreement with SSAB to supply high-quality molybdenum. The agreement includes price floor and ceiling mechanisms and supports the EU's strategic need for responsibly sourced critical minerals.
Greenland Resources has signed a Memorandum of Understanding (MOU) with ROGESA (a joint subsidiary of Dillinger and Saarstahl) for the long-term supply of molybdenum products from its Malmbjerg project. The agreement aims to secure a stable, responsibly sourced molybdenum supply for European steel producers, supporting strategic sectors like renewable energy and defence.
