Greenland Mines Ltd. (NASDAQ: GRML) has released an independent Initial Assessment (IA) for its Sarfartoq Nd-Pr Rare Earth Element Project in southwest Greenland, revealing a high-case pre-tax net present value (NPV) of up to approximately $2.05 billion at an 8% real discount rate. The assessment, which includes Indicated and Inferred Mineral Resources, also outlines an internal rate of return (IRR) of 118.6%. When Inferred Mineral Resources are excluded, the high-case pre-tax NPV is estimated at up to $1.49 billion with an IRR of 92.7%.
The IA outlines a nine-year mine life processing 12.2 million tons at an annual rate of 1.4 million tons. At 2025 consumption levels, planned Sarfartoq NdPr oxide production would represent approximately 34% of NdPr oxide refined outside China during each scheduled operating year. This underscores the project's potential significance in diversifying the global rare earth supply chain, which is currently dominated by China.
The assessment is based on the ST1 deposit, which occupies well under 1% of the company's 191-square-kilometer exploration license. Greenland Mines has identified five other known rare earth occurrences within the license that remain largely untested. The company plans to conduct additional exploration beginning in September 2026, along with targeted infill drilling, pilot-scale metallurgical test work, mine engineering planning, and continued environmental and social baseline studies as it advances Sarfartoq toward a Pre-Feasibility Study.
The Sarfartoq project is part of Greenland Mines' broader strategy to build a multi-asset platform with exposure to rare earth magnet materials, precious metals, and selected midstream processing opportunities. The company is also advancing its North Atlantic Critical Metals Corridor vision, linking Greenland resources with allied downstream jurisdictions and industrial infrastructure. This vision aligns with Western efforts to secure critical mineral supplies and reduce dependence on China.
Greenland Mines operates two divisions: Mining, focused on exploration and development of the Skaergaard Project in southeast Greenland and, subject to closing of the previously announced transaction, the Sarfartoq project; and Biotech, including Klotho's KLTO-202 primary indication for ALS. The company's strategy is centered on building a diversified portfolio with exposure to critical minerals and biotech innovations.
The full press release is available at https://ibn.fm/7uEG4. For the latest news and updates regarding GRML, visit the company's newsroom at https://ibn.fm/GRML.
