Greenland Mines Ltd (NASDAQ: GRML) announced the engagement of Tetra Tech Canada Inc. and GeoSim Services Inc. to prepare an updated SEC S-K 1300-compliant mineral resource estimate for its Sarfartoq neodymium-praseodymium (Nd-Pr) rare earth project in southwest Greenland. The updated estimate, expected to be substantially completed this summer, will incorporate historical NI 43-101 resource work along with drilling and technical studies conducted by Neo Performance Materials between 2023 and 2025. This initiative is intended to support an updated preliminary economic assessment and future development studies for the project.
GeoSim, led by Ronald G. Simpson, P.Geo., has been appointed as the qualified person for the resource estimate, providing continuity from earlier Sarfartoq resource and economic studies completed in 2011 and 2012. Tetra Tech will provide engineering, mine planning, and metallurgical support, including optimization studies evaluating open-pit, underground, and hybrid development scenarios. Greenland Mines also reappointed WSP Danmark A/S to continue environmental baseline work at the project as the company advances Sarfartoq, which it believes is distinguished by a strong neodymium-praseodymium component and strategic relevance to Western rare earth supply chains.
This news matters because neodymium and praseodymium are critical components in permanent magnets used in electric vehicles, wind turbines, and other high-tech applications. With global demand for rare earth elements rising and supply chains heavily concentrated in China, projects like Sarfartoq offer a potential alternative source for Western markets. The updated resource estimate will provide investors and stakeholders with a clearer picture of the project's viability and could accelerate development timelines.
Greenland Mines Ltd is a Nasdaq-listed company with two operating divisions: Mining, focused on the exploration and development of the Skaergaard Project in southeast Greenland and, subject to closing of the previously announced transaction, the Sarfartoq Nd-Pr rare earths project; and Biotech, including Klotho’s KLTO-202 primary indication for ALS. The company’s strategy is centered on building a multi-asset platform with exposure to rare earth magnet materials, precious metals, and selected midstream processing opportunities, while advancing its broader North Atlantic Critical Metals Corridor vision linking Greenland resources with allied downstream jurisdictions and industrial infrastructure.
For more information, the full press release is available at https://ibn.fm/eIurP. The latest news and updates relating to GRML are available in the company’s newsroom at https://ibn.fm/GRML.
