Business
Greenland Resources Signs Mandate Agreement With European Bank
TORONTO / Oct 15, 2025 / Business Wire / Greenland Resources A/S, a fully owned Greenlandic subsidiary of Greenland Resources Inc. (Cboe CA: MOLY | FSE: M0LY) (
About this update from Greenland Resources Inc.
[{"type":"text","content":"TORONTO / Oct 15, 2025 / Business Wire / Greenland Resources A/S, a fully owned Greenlandic subsidiary of Greenland Resources Inc. (Cboe CA: MOLY | FSE: M0LY) (“Greenland Resources” or the “Company”) is pleased to announce the Company has signed a mandate letter with a major German Bank (the “Bank”) to act as the Export Credit Agency (“ECA”) Coordinator for the Project. The ECA Coordinator role covers the relevant tasks up to debt financial close. The Bank has extensive experience in acting as the ECAs Coordinator in project financings worldwide, as well as being one of Europe’s most prestigious institutions. The Bank will now be in a position to start working with some of the ECA’s discussed in previous press releases (primarily EKN, Finnvera, and EIFO). The Company’s debt part of the Capex is around US$750 million. Mandating the Bank complements the Company’s strategy to increase EU and specifically German content in the project. Germany remains the largest molybdenum user in the EU and expects to increase defence expenditures significantly during the next decade. Over eighty percent of all defence metallic components require molybdenum. The Company recently received an 30 year exploitation license and has also signed offtake agreements with the some of the largest EU steel companies including some that control a significant part of the German steel market and will roast in Belgium. The Company intends to expand the business relationship with the Bank in other areas related to the German steel market. About Molybdenum and the EU The EU is the second largest molybdenum user worldwide, (around 122 million pounds of molybdenum per year, 19% of the global demand according to IMOA), has large processing capacity, produces the best specialty steel products worldwide but has no molybdenum extraction. Green energy technologies, steel and defence are the key drivers for market growth. When molybdenum is added to steel and cast iron, it enhances strength, hardenability, weldability, toughness, temperature strength, and corrosion resistance. To a greater degree, the EU steel dependent industries like automotive, construction, and engineering, represent around 18% of EU GDP. Greenland Resources strategically located Malmbjerg project has the potential to supply in and for the EU approximately 25% of the EU demand of environmentally friend...