Greenland Resources announced that the Government of Canada has signed an agreement for a $7 million non-repayable contribution through Natural Resources Canada\u2019s Critical Minerals Research, Development and Demonstration program.<\/p>\n
The approval follows Greenland Resources\u2019 March 2, 2026 announcement regarding conditional approval for the contribution.<\/p>\n
The company said the Government of Canada has now completed its final due diligence and signed the agreement.<\/p>\n
Greenland Resources said Canada is now the first G7 government to invest in mining in Greenland.<\/p>\n
The funding will support a metallurgical program connected to the company\u2019s Malmbjerg project in central east Greenland.<\/p>\n
The program will evaluate the feasibility of processing primary molybdenum using saline and fresh water for flotation with Canadian expertise.<\/p>\n
It will also assess the potential recovery of magnesium and rare earth elements as by-products contained within the Malmbjerg ore body and saline water.<\/p>\n
The program is expected to run until March 2028, with progress updates to be provided over time.<\/p>\n
Greenland Resources expressed gratitude to the Government of Canada, Minister Tim Hodgson, and his team for their leadership and support.<\/p>\n
Greenland Resources is a Canadian and Greenlandic public company focused on developing its wholly owned Climax-type primary molybdenum deposit in central east Greenland.<\/p>\n
The Malmbjerg project also includes magnesium as a potential by-product. The company noted that the magnesium market is dominated by China.<\/p>\n
Malmbjerg is planned as an open-pit operation with a mine design focused on reduced water usage, low aquatic disturbance, and a smaller footprint through modularized infrastructure.<\/p>\n
The project benefits from an NI 43-101 definitive feasibility study completed by Tetra Tech in 2022. The study outlined $820 million in capital expenditures, a levered after-tax internal rate of return of 33.8%, and a payback period of 2.4 years using a molybdenum price of $18 per pound.<\/p>\n
The project\u2019s proven and probable reserves are 245 million tonnes at 0.176% MoS2, representing 571 million pounds of contained molybdenum metal.<\/p>\n
Greenland Resources said average annual production for years one to ten is expected to be 32.8 million pounds per year of contained molybdenum metal at an average grade of 0.23% MoS2.<\/p>\n
The company said that amount represents approximately 25% of total yearly European Union consumption and 100% of EU defense needs.<\/p>\n
Greenland Resources is also working on extracting magnesium from saline water used in the project, along with evaluating magnesium and rare earth elements found in molybdenum concentrate.<\/p>\n
The company aims to incorporate magnesium and rare earth elements into the economics of the feasibility study.<\/p>\n
On June 19, 2025, Greenland Resources was awarded an exploitation license for molybdenum and magnesium.<\/p>\n
In December 2025, the European Commission presented RESourceEU and mentioned the Malmbjerg project in Greenland as a priority EU project. The project is also supported by the European Raw Materials Alliance.<\/p>\n","protected":false},"excerpt":{"rendered":"Greenland Resources announced that the Government of Canada has signed an agreement for a $7 million non-repayable contribution…\n","protected":false},"author":2,"featured_media":118810,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[5],"tags":[57,3211],"class_list":["post-118809","post","type-post","status-publish","format-standard","has-post-thumbnail","category-greenland","tag-greenland","tag-greenland-resources"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@dk\/116834941602656665","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/posts\/118809","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/comments?post=118809"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/posts\/118809\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/media\/118810"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/media?parent=118809"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/categories?post=118809"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/tags?post=118809"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}