Greenland Mines' Sarfartoq Project Valued at Up to $2.05 Billion in Initial Assessment

Greenland Mines Ltd. (NASDAQ: GRML), a Western-aligned critical minerals developer, has released an independent Initial Assessment (IA) for its Sarfartoq Nd-Pr Rare Earth Element Project in southwest Greenland. The assessment outlines 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%, including both Indicated and Inferred Mineral Resources. When Inferred Mineral Resources are excluded, the high case estimates a pre-tax NPV of up to $1.49 billion and an IRR of 92.7%.

The IA is based on the ST1 deposit, which occupies well under 1% of the company’s 191-square-kilometer exploration license. The assessment outlines a nine-year mine life, processing 12.2 million tons at a rate of 1.4 million tons annually. At 2025 consumption levels, planned Sarfartoq NdPr oxide production would represent approximately 34% of NdPr oxide refined outside China during each scheduled operating year. This highlights the project's potential to significantly bolster the non-Chinese supply chain for these critical rare earth elements, which are essential for permanent magnets used in electric vehicles, wind turbines, and other high-tech applications.

Greenland Mines said five other known rare earth occurrences within the license remain largely untested, and the company plans additional exploration beginning in September 2026. The company also expects 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 Sarfartoq project is part of Greenland Mines' broader strategy to build a multi-asset platform with exposure to rare earth magnet materials, precious metals, and selected midstream processing opportunities. The company is also advancing its North Atlantic Critical Metals Corridor vision, which aims to link Greenland resources with allied downstream jurisdictions and industrial infrastructure. This corridor is intended to secure a Western-aligned supply chain for critical minerals, reducing reliance on China for these essential materials.

The release of the IA is a significant milestone for Greenland Mines and for the critical minerals sector. The high NPV and IRR figures indicate the economic viability of the Sarfartoq project, which could attract investment and accelerate development. The project's potential to supply a substantial portion of non-Chinese NdPr oxide underscores its strategic importance in the global push to diversify rare earth sources.

For more information, visit the full press release at https://ibn.fm/7uEG4.