Business
Greenland Resources Provide Update
TORONTO / Mar 31, 2025 / Business Wire / Greenland Resources Inc. (Cboe CA: MOLY | FSE: M0LY) (“Greenland Resources” or the “Company”) is pleased to announce th
About this update from Greenland Resources Inc.
[{"type":"text","content":"TORONTO / Mar 31, 2025 / Business Wire / Greenland Resources Inc. (Cboe CA: MOLY | FSE: M0LY) (“Greenland Resources” or the “Company”) is pleased to announce the Company’s ongoing progress on its Malmbjerg Molybdenum Project (the “Project”). Highlights Greenland elections were held on March 11, 2025 and on March 28, 2025, a new government coalition was formed. The new Premier of Greenland is now Mr. Jens-Frederik Nielsen who was also a former minister of industry and minerals. The appointed Minister for Business, Trade, Minerals, Justice and Gender Equality remains Ms. Naaja Nathanielsen who was also the Minister of Mines during the latest government (2021-2025). The new government expressed a very positive approach towards business development and the creation of a self-sustaining economy and will ensure continuity to Ms. Nathanielsen previously announced Greenland Mineral Resources Strategy 2025-2029. The government will start working today. Following January 20, 2025 press release, the Company continues to have productive discussions on the draft exploitation license with the government of Greenland and was informed that the recommendation for the approval of the application for the exploitation license has commenced. The new Minister will need to sign the recommendation and seek approval at the ministerial level. Following the February 24, 2025 press release, the Company has made progress with other potential large metallurgical steel companies in converting the non-binding agreements into binding agreements The Company expects to visit the Project with a syndicate of banks as part of the upcoming summer program. The Company continues to have discussions with strategic investors as well as mining companies. The Company has completed the work necessary to compile a resource calculation for contained in-situ magnesium, which will be announced upon completion. Magnesium is used in the production of structural metals and is essential in almost all aluminum alloys, including military and aerospace. China accounts for 91% of the world’s supply of magnesium. The Company will present the Project during the EIT RawMaterials summit in Brussels May 13-15. Greenland Resources Inc. Greenland Resources is a Canadian public company with the Ontario Securities Commission as its principal regulator and is focused on the development of its 10...