Greenland Mines applies to double Sarfartoq rare earth footprint

Greenland Mines Ltd. has applied for a new exploration license from the Government of Greenland to expand its footprint at the Sarfartoq rare earth and carbonatite district. The requested license covers approximately 262 square kilometres immediately east of the company’s existing 192-square-kilometre license.

If approved, the expansion would more than double the company’s controlled area to approximately 454 square kilometres. The company is pursuing a two-track strategy: advancing the ST1 neodymium-praseodymium rare earth deposit while evaluating satellite targets and exploring the broader district. The ST1 deposit currently includes 6.9 million tons of Indicated Mineral Resources and 5.3 million tons of Inferred Mineral Resources. An initial assessment of the project includes a high-case pre-tax net present value (NPV) of approximately $2.05 billion.