Greenland Mines Ltd. (NASDAQ: GRML) has released an independent Initial Assessment (IA) for its Sarfartoq Nd-Pr Rare Earth Element Project in southwest Greenland, revealing a high-case pre-tax net present value (NPV) of up to approximately $2.05 billion at an 8% real discount rate, with an internal rate of return (IRR) of 118.6%. The assessment, which includes Indicated and Inferred Mineral Resources, also outlines a base case with a pre-tax NPV of up to $1.49 billion and an IRR of 92.7% when Inferred resources are excluded.
The IA is based on the ST1 deposit, which occupies less than 1% of the company's 191-square-kilometer exploration license. The project is designed with a nine-year mine life, processing 12.2 million tons at an annual rate of 1.4 million tons. At 2025 consumption levels, planned Sarfartoq NdPr oxide production would represent approximately 34% of NdPr oxide refined outside China during each scheduled operating year, underscoring the project's potential to strengthen Western supply chains for critical minerals used in permanent magnets for electric vehicles, wind turbines, and other technologies.
The company highlighted that five other known rare earth occurrences within the license remain largely untested, with additional exploration planned to begin in September 2026. Greenland Mines also intends to conduct targeted infill drilling, pilot-scale metallurgical test work, mine engineering planning, and continued environmental and social baseline studies as it advances Sarfartoq toward a Pre-Feasibility Study.
The announcement comes at a time when global demand for rare earth elements is surging, and concerns over supply chain security are prompting Western nations to seek alternatives to Chinese dominance in rare earth processing. The Sarfartoq project, if developed, could provide a significant source of neodymium and praseodymium, essential for high-strength magnets used in clean energy and defense applications.
Greenland Mines 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 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 details on the initial assessment, visit this link. For the latest news and updates on Greenland Mines, see the company's newsroom at https://ibn.fm/GRML.
