newsfilter
← Latest News
GlobeNewswire·

Greenland Government Approves Rare Earths License Transfer to Greenland Mines

GRML
  • Greenland Mines Ltd (NASDAQ: GRML) received formal approval from the Government of Greenland to transfer Mineral Exploration License MEL 2020-32 covering the Sarfartoq Carbonatite Complex from Neo Performance Materials Inc.
  • The approval under Section 69(1) of the Greenland Mineral Activities Act satisfies a key regulatory closing condition for the acquisition of the Sarfartoq Neodymium-Praseodymium (Nd-Pr) Rare Earths Project.
  • Sarfartoq features an exceptional Nd-Pr concentration of 25% to 40% of total rare earth oxides in its ST1 zone, positioning it as a critical Western-aligned supply source to reduce reliance on non-China-dependent regions.
  • The project possesses advanced maturity with a historic NI 43-101 Mineral Resource Estimate, a Preliminary Economic Assessment, over 15 years of exploration work, 23,000 meters of drilling, & existing infrastructure including a 20-person camp & two drill rigs.
  • Greenland Mines holds a dual-commodity position by combining the Sarfartoq rare earths project with its flagship Skaergaard palladium-gold-platinum project in southeast Greenland.
  • The Company aims to build the North Atlantic Critical Metals Corridor, linking upstream Greenlandic resources with midstream processing & downstream infrastructure across allied jurisdictions including Iceland.
  • Greenland Mines operates as a Nasdaq-listed entity with divisions in Mining & Biotech, the latter involving Klotho's KLTO-202 for ALS treatment.