Greenland Mines (NASDAQ: GRML) has announced a 31% increase in its indicated palladium equivalent resource at its Skaergaard project in southeast Greenland, positioning the project as one of the largest undeveloped palladium, gold and platinum deposits in the western world. The upgrade comes at a time when the palladium supply chain, dominated by Russian sources, faces heightened geopolitical risk, and demand from the automotive sector remains persistent.
Palladium is a critical component in catalytic converters for gasoline-powered vehicles, accounting for roughly 80% to 85% of global demand. The metal's supply concentration in Russia has raised concerns among Western nations about security of supply. The Skaergaard project offers a potential alternative source, with the resource upgrade underscoring its growing strategic value.
The 2026 field season is already underway, with drilling, bulk sampling for metallurgical test work, geotechnical measurements, engineering studies and environmental baseline activities in progress. These efforts aim to further define the deposit and advance the project toward development.
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