- The Canadian Government has closed its $7 million investment in Greenland Resources (TSX:MOLY) through Natural Resources Canada’s Critical Minerals Research, Development and Demonstration program, making it the first G7 member to invest in Greenland’s mining industry.
- The investment will help the company advance ongoing work at its Malmbjerg molybdenum, magnesium and rare earth elements project.
- Greenland Resources stock has given back 17.26 per cent since December 2025.
The Canadian Government has closed its $7 million investment in Greenland Resources (TSX:MOLY) through Natural Resources Canada’s Critical Minerals Research, Development and Demonstration program, making it the first G7 member to invest in Greenland’s mining industry.
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The non-repayable contribution, conditionally approved in March, will help the company advance ongoing work at its Malmbjerg molybdenum, magnesium and rare earth elements project, including metallurgical testing, scheduled through March 2028, to evaluate recovery potential and processing methods.
Malmbjerg, an open-pit operation, delivered a 2022 definitive feasibility study detailing US$820 million in CAPEX and a payback period of only 2.4 years, to extract sizeable molybdenum reserves estimated at 571 million pounds proven and probable.
According to Monday’s news release, the project is expected to produce 32.8 million pounds of molybdenum annually during years 1-10, representing about 25 per cent of the EU’s yearly consumption and 100 per cent of the bloc’s defense needs.
Greenland Resources intends to integrate magnesium and rare earth element by-products into Malmbjerg’s feasibility study in the near future.
About Greenland Resources
Greenland Resources is focused on developing its wholly-owned Malmbjerg molybdenum deposit in central east Greenland. The European Union recognized the asset as a priority project in December 2025.
Greenland Resources stock (TSX:MOLY) is down by 2.8 per cent trading at C$1.39 as of 9:31 am ET. The stock has given back 17.26 per cent since December 2025.
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