- The company launches its 2026 season, designed to move its Skaergaard project into its next phase of development.
- Key critical minerals mined at Skaergaard, including palladium and platinum serve critical industrial functions with few viable substitutes.
- Skaergaard ranks among the world’s largest undeveloped palladium, gold and platinum deposits, and Greenland Mines holds an 80% interest in the licenses covering it.
Argus, a support vessel loaded with drill rigs, just sailed out of Reykjavik, and it is carrying more than equipment. The ship is carrying the opening move of Greenland Mines’ (NASDAQ: GRML) most ambitious field season yet at its Skaergaard project, part of a broader push into the critical minerals the modern economy cannot function without.
“This is the moment the whole season has been building toward,” said Greenland Mines president Dr. Bo Moller Stensgaard. “Argus is loaded, the team is aboard, and we are underway to Skaergaard with everything we need to have a great season — more than 40 experts, three drill rigs drilling, machinery and equipment for bulk-sample blasting and sampling and advanced geophysical survey equipment, aerial drones, and a fully resourced field logistics network, in a program that in our opinion is materially broader than anything that has been run at Skaergaard before.
“Beyond the drilling that will support further upgrading of the resource, we are running an extensive program of environmental, operational, geotechnical and engineering work and investigations this summer that is specifically designed to move Skaergaard into its next phase of development,” he continued. “Everything is lined up. We are ready.”
This move is significant because currently key critical minerals mined at Skaergaard, including palladium and platinum, serve critical industrial functions with few viable substitutes. They are essential to catalytic converters, electronics and hydrogen fuel cells, and the United States government has formally classified platinum as a critical mineral in its own right.
Along with growing importance of these platinum-group metals, another key component of the picture is China’s activity in the space. China designated platinum a strategic critical mineral in late 2025 and began building stockpiles, while roughly 70% of global platinum supply still comes from a single region: South Africa’s Bushveld Complex.
Rare earth elements (“REEs”) are another group of minerals in the today’s spotlight. REEs power the magnets in electric vehicles and wind turbines, the sensors in smartphones and the guidance systems in defense equipment. Yet the supply of these materials remains dangerously concentrated in one country.
China mined around 60% of the world’s rare earths used in magnets in 2024 and controlled roughly 91% of global separation and refining capacity. Beijing has also expanded export licensing requirements on heavy rare earths such as dysprosium, terbium and yttrium, giving it direct leverage over global supply. Governments and manufacturers everywhere are now racing to diversify away from that single point of failure.
Greenland Mines sits at the intersection of both stories. The company operates two divisions, with its mining arm focused on the Skaergaard project in southeast Greenland and, pending the close of a previously announced deal, the Sarfartoq neodymium-praseodymium rare earths project in the country’s southwest. Together, the assets anchor what the company calls its North Atlantic Critical Metals Corridor, a strategy linking Greenland’s resources to allied processing and shipping infrastructure.
Skaergaard itself ranks among the world’s largest undeveloped palladium, gold and platinum deposits, and Greenland Mines holds an 80% interest in the licenses covering it through its subsidiary Major Precious Greenland A/S. The company describes this season as its most comprehensive field season at the site to date, sending its support vessel north from Reykjavik loaded with drill rigs, geophysical equipment and bulk-sampling machinery.
As the 40-plus technical experts, drillers and logistics personnel start the season, the company will have additional specialists rotating in throughout the summer. The program includes resource drilling, bulk sampling, environmental baseline studies and geotechnical work designed to support an upgrade of the Skaergaard mineral resource. It builds on the company’s recently completed S-K 1300 technical report and moves the project toward an initial assessment. The team is also evaluating a potential open-pit mining scenario for near-surface material, alongside the underground concepts already captured in the resource estimate.
Skaergaard’s location carries strategic weight beyond the deposit itself. The site sits roughly 400 kilometers from Iceland along the North Atlantic shipping corridor between Europe and North America, and Greenland Mines holds a right of refusal on the Helguvik industrial complex, a brownfield site with deep-water port access and renewable power. That positioning could support future downstream processing close to Western markets rather than routing materials through China.
As governments push to secure mineral supply chains outside Chinese control, a company advancing both a major platinum group metals deposit and a rare earths project, backed by a defined North Atlantic logistics strategy, is positioned to benefit from that shift. The 2026 field season marks a concrete step toward turning Skaergaard’s geological potential into a producing asset.
For more information, visit www.GreenlandMines.com.
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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