Business
Greenland Resources Conditionally Approved for up to $7 Million From the Government of Canada
Greenland Resources Inc. (TSX:MOLY | FSE: M0LY) (“Greenland Resources” or the  ...
About this update from Greenland Resources Inc.
[{"type":"text","content":"Greenland Resources Conditionally Approved for up to $7 Million From the Government of Canada\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n \n\n\n\n Greenland Resources Inc. (TSX:MOLY | FSE: M0LY) (“Greenland Resources” or the “Company”) is pleased to announce that the Government of Canada has conditionally approved the Company for a non-repayable contribution of up to $7,000,000 for the advancement of its Malmbjerg Molybdenum Optimization & Magnesium and Rare Earth By-product Feasibility Study project. Pending final diligence and definitive documentation, the funding will be provided through Natural Resources Canada's Critical Minerals Research, Development and Demonstration (CMRDD) program. The announcement was made today, Monday, March 2, 2026 by the Honourable Tim Hodgson, Canada’s Minister of Energy and Natural Resources at the annual PDAC conference in Toronto.\n \n\n This press release features multimedia. View the full release here:\n \n https://www.businesswire.com/news/home/20260302869966/en/\n \n\n\n The metallurgical program will evaluate the feasibility of processing primary molybdenum using saline and fresh water for flotation to assess the potential recovery of magnesium and rare earth element by-products contained within the Malmbjerg molybdenum ore body, and to assess magnesium recoveries contained in saline water using innovative technologies. Rare earth elements are used in the production of magnets, batteries and catalysts while magnesium is primarily used as a casting alloy in the automotive and aerospace industries and in aluminum-based alloys. China sourced production accounts for around 69% and 89% of global rare earth elements and magnesium, respectively.\n \n\n “Research and development are essential to building the sustainable and reliable critical mineral supply chains that power clean energy, advanced manufacturing and defence readiness,” said the Honourable Tim Hodgson, Minister of Energy and Natural Resources. “By supporting innovative projects like those led by Greenland Resources, we are strengthening Canada’s leadership in technologies that reduce environmental impacts, improve productivity and build long‑term economic and security resilience.”\n \n\n Dr Ruben Shiffman, Chairman said: “...