Greenland Mines (NASDAQ: GRML) announced a series of corporate milestones as it transitions into a focused rare earths and critical minerals company, including plans to spin off its biotechnology division in the fourth quarter of 2026. Nasdaq has formally approved the company application relating to its March 2026 transaction, resolving prior deficiencies and bringing Greenland Mines into full compliance with listing requirements. The company also completed its acquisition of the Sarfartoq project on Sept. 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%. Greenland Mines said planned annual neodymium-praseodymium oxide production from ST1 would equal approximately 34% of current NdPr oxide refining outside China based on 2025 consumption levels during each of the project nine scheduled operating years. The company is also reshaping its board, with Riad El-Dada and Dr. Shalom Hirschman stepping down and capital markets veteran Jason Hawkins joining as Greenland Mines advances Sarfartoq and its Skaergaard palladium-gold-platinum project.
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About Greenland Mines
Greenland Mines Ltd is a Nasdaq-listed company with two operating divisions: (1) Mining, focused on the exploration and development of the Skaergaard Project in southeast Greenland and, subject to closing of the previously announced transaction, the Sarfartoq neodymium-praseodymium (Nd-Pr) rare earths project in southwest Greenland; and (2) Biotech, including Klotho’s KLTO‑202 primary indication for ALS. The Company’s strategy is centered on building a multi-asset platform with exposure to rare earth magnet materials, precious metals and selected midstream processing opportunities, while advancing its broader North Atlantic Critical Metals Corridor vision linking Greenland resources with allied downstream jurisdictions and industrial infrastructure.
NOTE TO INVESTORS: The latest news and updates relating to GRML are available in the company’s newsroom at https:/ibn.fm/GRML
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