Curated News
By: NewsRamp Editorial Staff
September 08, 2026
Greenland Mines Hits Milestones in Rare Earths Transition
TLDR
- Greenland Mines secures Nasdaq compliance and a $2.05B NPV project, positioning for a strategic advantage in rare earths.
- Greenland Mines completed Sarfartoq acquisition, received S-K 1300 assessment showing 118.6% IRR, and plans biotech spin-off in Q4 2026.
- Greenland Mines' NdPr production could supply 34% of non-Chinese refining, supporting cleaner tech and allied supply chains.
- Jason Hawkins joins Greenland Mines' board as it advances rare earth and palladium projects, marking a strategic pivot.
Impact - Why it Matters
This news matters because it signals a significant step in Greenland Mines' pivot to critical minerals, which are essential for clean energy technologies and electric vehicles. The Sarfartoq project's high-grade NdPr deposit could reduce Western dependence on China for rare earth elements, a strategic supply chain concern. The spin-off of the biotech division allows the company to focus on mining, potentially unlocking shareholder value. The approval by Nasdaq and the government of Greenland de-risks the venture, while the strong economic metrics suggest a promising project that could influence global rare earth markets and attract investor attention.
Summary
Greenland Mines (NASDAQ: GRML) has announced a series of significant corporate milestones as it transforms into a focused rare earths and critical minerals company. The company plans to spin off its biotechnology division in Q4 2026, and Nasdaq has formally approved its application relating to the March 2026 transaction, resolving prior deficiencies and bringing it into full compliance with listing requirements. Additionally, Greenland Mines completed the acquisition of the Sarfartoq project on September 1, following approval by the Government of Greenland. An independent S-K 1300 Initial Assessment for the ST1 deposit estimated a high-case pre-tax net present value of approximately $2.05 billion and a pre-tax internal rate of return of 118.6%. The company highlighted that planned annual neodymium-praseodymium oxide production from ST1 would equal roughly 34% of current NdPr oxide refining outside China, based on 2025 consumption levels, during each of the project's nine scheduled operating years.
In a strategic reshuffle, Riad El-Dada and Dr. Shalom Hirschman are stepping down from the board, with capital markets veteran Jason Hawkins joining as Greenland Mines advances the Sarfartoq and Skaergaard projects. The company is listed on Nasdaq and operates two divisions: Mining, which includes the Skaergaard palladium-gold-platinum project and the Sarfartoq rare earths project, and Biotech, which includes Klotho's KLTO-202 for ALS. The company's broader vision is to build a multi-asset platform with exposure to rare earth magnet materials, precious metals, and midstream processing, while advancing its North Atlantic Critical Metals Corridor linking Greenland resources with allied downstream jurisdictions.
To view the full press release, visit: https://ibn.fm/QN1U9. For the latest news on GRML, see the company's newsroom at https://ibn.fm/GRML. This announcement was disseminated by InvestorWire, a specialized communications platform that is part of the Dynamic Brand Portfolio @ IBN. InvestorWire offers wire-grade press release syndication and a suite of corporate communications solutions, reaching a wide audience of investors and media.
Source Statement
This curated news summary relied on content distributed by InvestorBrandNetwork (IBN). Read the original source here, Greenland Mines Hits Milestones in Rare Earths Transition
