Greenland Mines Ltd. has applied for a new license to expand its Sarfartoq rare earth district by approximately 262 km². This move coincides with a new security agreement between the US, Denmark, and Greenland, which aims to protect sensitive investments in critical minerals.
Greenland Mines Ltd. has applied for a new license to expand its Sarfartoq rare earth district, potentially doubling its footprint. The company's ST1 project holds a combined Indicated and Inferred resource of 12.2 million tons at 1.32% TREO, supported by a preliminary Initial Assessment showing a high-case pre-tax NPV of $2.05 billion.
Greenland Mines Ltd. is positioned as a strategic player in the rare earth sector following a new security pact between the US, Denmark, and Greenland. The company's ST1 deposit features a combined resource of 12.2 Mt at 1.32% TREO and an Initial Assessment showing a high-case pre-tax NPV of $2.05 billion.
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 Mines has received formal government approval to complete the acquisition of the Sarfartoq project. Additionally, the company's Skaergaard field drilling season is currently active.
Greenland Mines Ltd has formed a Strategic Advisory Board comprising three industry leaders to support the development of its Sarfartoq and Skaergaard projects. The board members bring expertise in rare earth markets, Greenlandic mining operations, and technical geological knowledge.
Greenland Mines has completed a 104.8-ton bulk-sampling program at the Skaergaard palladium-platinum-gold project to support upcoming metallurgical test work. Simultaneously, the company is advancing environmental baseline studies and structural mapping at the Sarfartoq rare earth element project following its recent acquisition.
Greenland Mines has closed the acquisition of the Sarfartoq rare earths project and reported a significant resource upgrade at the Skaergaard palladium-gold-platinum project. The company is advancing its 'North Atlantic Critical Metals Corridor' strategy with strategic partnerships and active field programs in both East and West Greenland.
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.
