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 rare earth project in southwest Greenland. The updated resource 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, and 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 announcement underscores the growing importance of securing domestic rare earth sources. Neodymium-praseodymium is critical for permanent magnets used in electric vehicles and wind turbines, and the Sarfartoq project positions Greenland Mines to potentially become a key supplier outside of China. The engagement of reputable firms like Tetra Tech and GeoSim signals a methodical approach to advancing the project toward development. For more details, the full press release can be accessed here.
Greenland Mines operates with two divisions: mining, focused on the Skaergaard Project and Sarfartoq, and biotech, including Klotho’s KLTO-202 for ALS. The company’s strategy centers on building a multi-asset platform with exposure to rare earth magnet materials, precious metals and midstream processing opportunities, while advancing its broader North Atlantic Critical Metals Corridor vision. Updated news and filings are available in the company’s newsroom at https://ibn.fm/GRML.
Forward-looking statements in this article involve risks and uncertainties, and actual results may differ materially. These statements are subject to factors detailed in the company’s SEC filings, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. All parties undertake no duty to update this information unless required by law.
