Greenland Mines Ltd (NASDAQ: GRML) has announced the engagement of Tetra Tech Canada Inc. and GeoSim Services Inc. to prepare an updated mineral resource estimate compliant with SEC S-K 1300 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 update is intended to support an updated preliminary economic assessment and future development studies.
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.
The engagement of these firms marks a key step in the project's advancement. The full press release is available at https://ibn.fm/eIurP. 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.
This news is significant because it highlights the company's progress in advancing a critical minerals project that could bolster Western supply chains for rare earth elements used in permanent magnets for electric vehicles and wind turbines. The updated resource estimate will provide a more current basis for economic assessments, potentially de-risking the project and attracting investment. For more information on Greenland Mines, visit https://ibn.fm/GRML.
