Greenland Mines (NASDAQ: GRML) 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 estimate is intended to support an updated preliminary economic assessment (PEA) and future development studies for the project.
The engagement of these well-known engineering firms signals a significant step forward for the Sarfartoq project, which Greenland Mines believes is distinguished by a strong neodymium-praseodymium component and strategic relevance to Western rare earth supply chains. 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.
In addition, Greenland Mines reappointed WSP Danmark A/S to continue environmental baseline work at the project as the company advances Sarfartoq. This work is critical for future permitting and development. 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.
The updated resource estimate is a key milestone for Greenland Mines as it seeks to de-risk the project and attract potential partners or off-take agreements. The Sarfartoq project is one of the few rare earth projects globally with a high proportion of neodymium and praseodymium, which are essential for permanent magnets used in electric vehicles and wind turbines. The timing of the update aligns with growing demand for rare earth elements outside of China, as Western nations seek to secure supply chains for critical minerals.
For more details, the full press release is available 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.
Forward-looking statements in this article involve risks and uncertainties, including those set forth under the heading "Risk Factors" in the company's SEC filings. Undue reliance should not be placed on forward-looking statements, and all parties undertake no duty to update this information unless required by law.
