China mines more than two-thirds of the world’s rare earth elements and processes up to 90% of them. That concentration concerns Western governments and manufacturers alike. Export controls from Beijing have already pushed up prices and disrupted supply chains for the magnets used in cars, wind turbines and defense systems. Analysts project a 36% global shortfall in neodymium and praseodymium supply by 2030, even accounting for new production outside China. Greenland Mines’ (NASDAQ: GRML) wants to be part of the answer. In a newly released podcast, Greenland Mines president Dr. Bo Møller Stensgaard laid out how Greenland Mines plans to develop two large mineral deposits outside China’s reach.
During the IBN MiningNewsWire podcast, Stensgaard spoke about the company’s strategy, leadership team and project pipeline, describing Greenland Mines as built specifically around its Greenland assets. “We have access to North American capital and finance market experts, and we have a management team spanning the U.S., Denmark and Greenland, bringing together experienced operational, logistical and technical expertise to advance projects in Greenland,” he said.
The company’s first project is Skaergaard, a deposit dominated by palladium and gold. “It is a project that has been known for the past 40 years, which we are now putting into the next phase of development,” explained Stensgaard. Greenland Mines is now making plans for how to mine and build it, he noted.
Greenland Mines’ second project, Sarfartoq, targets neodymium and praseodymium, two rare earth elements used in powerful magnets. Those magnets power electric vehicle motors, wind turbines and defense systems. “We are dealing with a project that has precious metals on one side and critical metals on the other side, critical metals that are wanted and needed for both the European and U.S. markets,” Stensgaard said.
Stensgaard has deep personal history with both sites, explaining that he is an economic geologist. “I spent the first 16 years of my career at the Geological Survey of Denmark and Greenland. I did my PhD on West Greenland, where Sarfartoq is located, so I already knew both Sarfartoq and Skaergaard as some of the best projects in Greenland,” he noted. In addition, the company’s chief geologist wrote a doctoral thesis on Skaergaard specifically.
Greenland Mines also has a locally based permitting and community manager working inside Greenland itself, alongside a U.S.-based financial management team. “It’s a perfect setup for executing for the North American market and executing for the European market as well,” Stensgaard pointed out.
Scale is central to the company’s pitch. “I think some of what has been overlooked is the sheer size of what we have here,” stated Stensgaard. “Sarfartoq could cover one-third of the western world’s production of neodymium and praseodymium for the mine life of nine years.” Company materials put that figure at 34% of all NdPr oxide refined outside China, based on 2025 consumption levels.
The Sarfartoq license covers 687 square kilometers in western Greenland, divided into 40 sub-sites. A 2026 resource estimate, based on a drilling database of 161 holes, found 6.9 million tonnes indicated and 5.3 million tonnes inferred. Neodymium and praseodymium together make up 25% to 40% of the site’s total rare earth content.
Skaergaard is similarly large. “The Skaergaard Project is a very large palladium deposit that is supported by gold,” said Stensgaard. A 2026 resource estimate put the deposit at 15 million ounces indicated and 17.49 million ounces inferred, ranking it among the largest palladium-gold deposits in the world. Greenland Mines has invested $30 million in the site since the 1990s, and a new drilling program now aims to roughly double the resource, to about 50 million ounces.
Location matters too. “I think the geostrategic aspects of where our projects are located are also overlooked,” observed Stensgaard. Greenland Mines sits inside a Western-aligned jurisdiction with a modern regulatory regime and no third-party royalties.
Sarfartoq officially closed as an acquisition on Sept. 1, following approval from the Greenland government. An independent assessment valued the project at $2.05 billion, with a projected internal rate of return of 118%.
Looking ahead, Stensgaard pointed to permitting applications as the next major milestone for both projects. “We have put out a clear path for how we’re going to develop these projects moving forward,” he noted.
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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