Greenland Resources has completed a summer field program to collect approximately eight tonnes of drill core and fourteen tonnes of saline and fresh water for metallurgical testing. The program, funded by Natural Resources Canada, aims to evaluate the recovery of magnesium and rare earth elements as by-products from the Malmbjerg molybdenum project.
Greenland Resources welcomes the new security agreement between Greenland, Denmark, and the US, viewing it as a stabilizer for mineral supply. The company also highlights its binding offtake agreements with major steel producers and notes that its Feasibility Study uses a conservative molybdenum price of US$18/lb.
Greenland Resources has successfully completed its expanded summer field program in Greenland, which included geotechnical, geophysical, and surveying activities to support project engineering. The company also collected 8 tonnes of diamond drill core and 14 tonnes of water for upcoming metallurgical pilot plant testing of molybdenum, magnesium, and rare earth elements.
Greenland Resources has received a $120 million Letter of Interest from the Nordic Investment Bank to fund its Malmbjerg molybdenum and magnesium project. This follows previous offtake agreements and an expression of interest from Export Development Canada for up to $275 million.
Greenland Resources has signed a Memorandum of Understanding (MOU) with German steel producers Dillinger and Saarstahl for the long-term supply of molybdenum products. The agreement aims to secure a stable, responsibly sourced molybdenum supply for European strategic sectors, including defense and renewable energy.
Greenland Resources has received conditional approval for a non-repayable $7 million contribution from the Government of Canada. The funding will support a feasibility study focused on optimizing molybdenum production and evaluating the recovery of magnesium and rare earth element by-products.
Greenland Resources has reanalyzed 233 archived core samples from the Malmbjerg molybdenum project, identifying significant concentrations of rare earth elements (up to 579.5 ppm TREO) and gallium (19.1 ppm average). The company is initiating petrographic studies to evaluate the potential for magnesium and rare earth recovery as byproducts to the existing molybdenum operation.
Greenland Resources has signed a Memorandum of Understanding (MOU) with German steel producer GMH Gruppe for the long-term supply of molybdenum products. The agreement supports the Malmbjerg project in Greenland, which is identified as a priority EU project and is expected to supply a significant portion of EU molybdenum demand.
