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 integrate historical NI 43-101 resource work along with drilling and technical studies completed by Neo Performance Materials between 2023 and 2025. This effort is designed to support an updated preliminary economic assessment and future development studies, marking a critical step in advancing the project toward potential production.
The engagement of GeoSim, led by Ronald G. Simpson, P.Geo., ensures 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. The appointment of these firms underscores the company's commitment to rigorous technical evaluation as it advances the Sarfartoq project, which it believes is distinguished by a strong Nd-Pr component and strategic relevance to Western rare earth supply chains. Greenland Mines also reappointed WSP Danmark A/S to continue environmental baseline work at the project, a key component of permitting and sustainability planning.
The updated resource estimate is a pivotal milestone for Greenland Mines as it seeks to position Sarfartoq as a reliable source of critical rare earth elements outside of China. Neodymium and praseodymium are essential for manufacturing permanent magnets used in electric vehicles, wind turbines, and defense systems, making them central to the global energy transition and national security interests. By updating the resource to S-K 1300 standards, the company aims to attract Western investment and align with U.S. and European initiatives to diversify rare earth supply chains.
Greenland Mines operates with two divisions: Mining, focused on exploration and development of the Skaergaard Project in southeast Greenland and the Sarfartoq 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. The full press release is available at https://ibn.fm/eIurP. For the latest news on GRML, visit the company's newsroom at https://ibn.fm/GRML.
