Greenland Mines Ltd (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.
This announcement is significant because it signals progress in developing a Western source of neodymium and praseodymium, key inputs for permanent magnets used in electric vehicles and wind turbines. As global demand for rare earth magnets grows, the Sarfartoq project could reduce reliance on Chinese supply chains. The engagement of experienced firms Tetra Tech and GeoSim adds credibility to the resource update, which is a critical step toward financing and construction decisions.
The full press release is available at https://ibn.fm/eIurP. For more information about Greenland Mines, visit their newsroom at https://ibn.fm/GRML.
