Greenland Mining's Sarfartoq Project Valued at $2 Billion

On Tuesday, Greenland Mining Limited released an independent preliminary assessment report for its Sarfartoq neodymium-praseodymium rare earth element project in southwestern Greenland.

High-Value Economics and Resource Potential

Under a high-case scenario, the study highlights a pre-tax net present value of up to $2.05 billion and an internal rate of return of 118.6%, underscoring the asset's economic viability and its role in a non-Chinese supply chain.

The study, prepared by Agricola Mining Consultants Pty Ltd under Regulation S-K 1300, incorporates proven mineral resources and inferred mineral resources.

Excluding inferred resources, the pre-tax net present value is $1.49 billion with an internal rate of return of 92.7%. The project has a mine life of nine years, processing 12.2 million tonnes of ore at a grade of 1.32% total rare earth oxides.

Strategic Significance for Western Supply Chains

Sarfartoq's annual neodymium and praseodymium oxide production will supply approximately 34% of refined output outside of China.

Neo Performance Materials Inc. will become a strategic shareholder, securing a non-binding offtake right for up to 60% of future concentrate production.

Neo plans to process the material at its Silmet facility in Estonia.

Technical Milestones and Exploration Upside

The report marks the first combined open-pit and underground resource estimate for Sarfartoq.

Proven resources stand at 6.9 million tons at a grade of 1.60% total rare earth oxides, with inferred resources totaling 5.3 million tons at a grade of 0.96%.

Tetra Tech Canada Inc. and GeoSim Services Inc. prepared the technical report summary, which for the first time identified proven resources.

Metallurgical testing conducted by SGS Canada achieved a flotation concentrate at approximately 8.25% grade with a recovery rate of 63.6%.

Environmental baseline studies led by WSP Denmark continue ahead of permitting, and the technical team plans a drone survey in September 2026 to assess district-scale exploration targets within the license area.

GRML share performance: As of Tuesday's data release, Greenland Mining shares were up 5.22% at $10.25.