en.Wedoany.com Reported - Greenland Mines Ltd. (Nasdaq: GRML) is accelerating its Sarfartoq neodymium-praseodymium (Nd-Pr) rare earth magnet project in southwestern Greenland, and has commissioned Tetra Tech Canada Inc. and GeoSim Services Inc. to prepare an updated mineral resource estimate (MRE) compliant with the U.S. Securities and Exchange Commission's S-K 1300 regulations.
This acceleration comes as Western governments race to establish non-China rare earth supply chains. Starting January 1, 2027, the U.S. defense system will ban the use of neodymium-iron-boron magnets containing rare earths sourced from China, a deadline that is channeling capital toward companies capable of developing magnet-grade rare earth deposits and mastering processing technologies.
The core advantage of the Sarfartoq project lies in its high neodymium-praseodymium ratio, with these two elements accounting for approximately 25% to 40% of total rare earth oxides (TREO). The company considers this one of the highest reported ratios globally, a characteristic that concentrates value on the two key elements driving the magnet economy.
To advance the resource estimate, Ronald G. Simpson (Professional Geologist) of GeoSim serves as the Qualified Person. He was responsible for the project's historical 2011 and 2012 resource estimates and was the lead author of the 2011 Preliminary Economic Assessment (PEA). The continuity of the work plan ensures technical oversight of the geological model and database. Under a consulting services agreement dated June 11, 2026, the relevant work plan is expected to be substantially completed this summer, subject to internal review and approval.
Within the broader industry context, multiple companies are simultaneously advancing the establishment of a Western, non-China mine-to-magnet supply chain. MP Materials Corp. (NYSE: MP) has entered into a partnership with the U.S. Department of Defense, including a ten-year price floor commitment of $110 per kilogram for its neodymium-praseodymium products. USA Rare Earth, Inc. (Nasdaq: USAR) launched a commercial magnet production line at its Stillwater, Oklahoma facility in March 2026. Energy Fuels Inc. (NYSE American: UUUU) is advancing neodymium-praseodymium oxide production at its White Mesa Mill in Utah, USA.
Notably, Sarfartoq still awaits the completion of the previously announced transaction with Neo Performance Materials, and the formal transfer of the exploration license from Greenland authorities is ongoing. These conditions constitute important prerequisites for project advancement. Additionally, Greenland Mines has reappointed WSP Danmark A/S to complete the second year of environmental baseline data collection, preparing for project permitting.
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