Greenland Mines (NASDAQ: GRML) has 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 completed by Neo Performance Materials between 2023 and 2025.
The updated resource estimate is intended to support an updated preliminary economic assessment and future development studies. This move signals the company's commitment to advancing the Sarfartoq project, which it believes is distinguished by a strong neodymium-praseodymium component and strategic relevance to Western rare earth supply chains. As global demand for rare earth elements used in permanent magnets for electric vehicles and wind turbines grows, projects like Sarfartoq could play a key role in diversifying supply away from dominant producers.
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.
The engagement of these firms represents a tangible step toward de-risking the Sarfartoq project and moving it closer to production. For the rare earth industry, the project's progress is notable because neodymium and praseodymium are critical components of high-strength magnets used in clean energy technologies. A reliable Western source of these materials could reduce dependence on Chinese supply chains, which currently dominate global rare earth processing.
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, see the full press release 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.
