Greenland Security Pact Reshapes the Race for Rare Earth Supply

Issued on behalf of Greenland Mines Ltd.

CHARLOTTE, N.C., Sept. 22, 2026 (GLOBE NEWSWIRE) -- Equity Insider News Commentary - Washington has spent the better part of two years trying to build a rare earth supply chain that does not run through China. Over the weekend, that effort picked up a geographic anchor. President Trump announced on Friday that the United States, Denmark and Greenland had reached a security agreement, and in his announcement he said no U.S. adversary could "make sensitive investments in Greenland, without our express written approval." The market read that line as a statement about minerals, and on Monday it repriced nearly every listed company with a Greenland address. Among them was Greenland Mines Ltd. (Nasdaq: GRML), which holds two of the island's larger undeveloped mineral assets, including a neodymium-praseodymium rare earth project on the west coast. Companies mentioned in today's commentary include Critical Metals Corp. (Nasdaq: CRML), MP Materials Corp. (NYSE: MP), USA Rare Earth, Inc. (Nasdaq: USAR), and TMC the metals company Inc. (Nasdaq: TMC).

Key Takeaways

• The U.S., Denmark and Greenland have announced a security agreement that would restrict adversary nations from military positions and sensitive investments on the island. Signing is expected during this week's UN General Assembly, and Danish and Greenlandic ratification is still required.
• Greenland-linked equities rallied sharply on Monday as investors priced the island's mineral deposits through a Western-security lens rather than a purely geological one.
• Greenland Mines has applied for a new license of approximately 262 km², which would lift its Sarfartoq rare earth footprint from about 192 km² to about 454 km² if granted.
• The Company's Initial Assessment for the ST1 deposit at Sarfartoq includes a high-case pre-tax NPV of approximately $2.05 billion, and the Company states planned NdPr oxide output would equal roughly 34% of NdPr oxide refined outside China at 2025 consumption levels.
• The agreement text has not been published, and nothing announced so far grants any company a permit, an offtake or funding.
  
  

What the Agreement Says, and What It Does Not

The deal came together after months of quiet negotiation among the three governments. As reported by NPR, the administration intends to begin building a substantially larger U.S. military presence on the island, which already hosts Pituffik Space Base. Copenhagen, for its part, has stressed that Denmark retains sovereignty over Greenland, and Danish Prime Minister Mette Frederiksen and Greenlandic Prime Minister Jens-Frederik Nielsen said in a joint statement that the three parties expect to sign the agreement this week.

What has captured investor attention is the investment clause. According to reporting by CNBC on Tuesday, the broader provisions would prohibit sensitive investments by non-allied nations in Greenland's critical minerals and mining sectors. Secretary of State Marco Rubio used meetings with Arctic allies on Monday to press for more defense spending in the region and for funding of critical infrastructure.

It is worth being precise about the limits. Coverage of the announcement has noted that it contains no specific reference to U.S. mining rights, and the full legal text has not been released. The agreement, as described so far, changes who may invest in Greenland's minerals. It does not by itself change the geology, the logistics, or the capital required to develop them.

Why Magnet Metals Sit at the Center of the Trade

The reason a security agreement moves mining stocks is the permanent magnet. Neodymium and praseodymium, usually traded together as NdPr, are the working ingredients in the high-strength magnets inside electric vehicle motors, wind turbines, drones, guided munitions and industrial robotics. By most industry estimates, China controls more than 90% of magnet rare earth refining and a similar share of finished magnet production.

Price has followed policy. S&P Global's NdPr market work shows NdPr oxide moving from roughly US$74 per kilogram in December 2025 to around US$120 per kilogram by mid-2026, a period dominated by trade actions, stockpile planning and Chinese export restrictions rather than by any shift in underlying demand. Washington has responded by backing domestic producers directly, but new domestic separation and magnet capacity still needs a supply of ore from somewhere, and allied jurisdictions with established deposits are in short supply.

That is the gap the weekend's announcement put a spotlight on. Greenland hosts some of the largest known undeveloped rare earth deposits in the Western world, and a framework that screens adversary capital out of the island makes those deposits more clearly available to allied supply chains.

A Rare Earth District Taking Shape in West Greenland

Greenland Mines Ltd. (Nasdaq: GRML) describes itself as a Western-aligned critical-minerals developer, and its two assets line up closely with the priorities the agreement names. On the west coast it is advancing the Sarfartoq neodymium-praseodymium project. On the southeast coast it holds the Skaergaard project, which the Company describes as a large-scale palladium-platinum-gold and vanadium-bearing mineral system. More at greenlandmines.com.

The Company welcomed the agreement within hours of the announcement. "Today's announcement underscores what we have long believed: Greenland is becoming one of the most strategically important regions in the world," said Dr. Bo Møller Stensgaard, President of Greenland Mines. "We believe that same strategic importance extends to the critical minerals required for defense, advanced technology and energy security."

On Monday, the Company followed with an operational move. Greenland Mines announced that it has applied to the Government of Greenland for a new exploration license covering approximately 262 km² immediately east of its existing Sarfartoq license, MEL 2020-32. If granted, the application would take the Company's controlled footprint across the known rare earth and carbonatite district from about 192 km² to about 454 km², more than doubling it. The Company says historical stream-sediment geochemistry, regional aeromagnetic data and geological information identify the applied-for area as prospective ground, though no Mineral Resource has been estimated there and it is an exploration opportunity only.

The anchor of the district is the ST1 deposit. Greenland Mines recently delivered a new Mineral Resource Estimate for ST1 under the SEC's Regulation S-K 1300. Under a hybrid open-pit and underground scenario, it comprises 6.9 million tons of Indicated Mineral Resources grading 1.60% total rare earth oxides (TREO) and 5.3 million tons of Inferred Mineral Resources grading 0.96% TREO, or roughly 12.2 million tons grading 1.32% TREO on a combined basis. An independent Initial Assessment on ST1 includes a high-case pre-tax NPV of approximately $2.05 billion.

The figure that speaks most directly to the policy moment is scale. According to the Company, ST1's planned annual NdPr oxide production would represent approximately 34% of all NdPr oxide currently refined outside China at 2025 consumption levels. The deposit is also concentrated in exactly the metals Washington is chasing: Nd and Pr account for approximately 84% of the modeled in-concentrate basket value.

The Company has laid out a two-track plan. "Our strategy is straightforward: advance ST1 toward development, unlock the value of the less-developed known ST zones and systematically test the wider district for the next rare earth discovery," said Stensgaard. Those other known zones, including ST40, ST19, ST24, ST31 and ST43, are substantially less developed than ST1 and are not part of the current resource estimate or its economics.

Skaergaard adds a second leg. The project's first S-K 1300 Technical Report Summary, prepared by SLR Consulting (Canada) Ltd. with an effective date of July 3, 2026, reported Indicated Mineral Resources of 153.6 million tonnes grading 3.04 g/t palladium-equivalent, for 15.00 million ounces PdEq. Together, the Company says its two projects can form part of a broader North Atlantic Critical Metals Corridor linking Greenland's resources with downstream processing in allied jurisdictions.

The trading reaction has been dramatic. Shares of Greenland Mines rose more than 200% on Monday as Greenland-linked names moved together, and continued to trade actively in Tuesday's session. Moves of that size in a small-capitalization stock can reverse as quickly as they arrive, and they reflect sentiment around the agreement rather than any change in the Company's underlying projects.

There are real risks attached to the Company's plans. Greenland Mines is a development-stage company with no Mineral Reserves at either project. The Sarfartoq Initial Assessment is preliminary, includes Inferred Mineral Resources that are too speculative geologically to be categorized as reserves, and there is no certainty its results will be realized. The new license is an application only and may be delayed, modified or denied. Arctic logistics, a short field season, environmental permitting, metallurgy, commodity prices and access to financing all bear on whether either project is ever built, and exploration-stage companies commonly fund their work through equity issuance that dilutes existing shareholders. The security agreement itself has not been signed or ratified and grants the Company no rights. Readers should review the Company's filings with the SEC before making any decision.

Read more on Greenland mines and other sector updates here: http://Equity-Insider.com

The Rest of the Western Supply Race

Critical Metals Corp. (Nasdaq: CRML) was the other Greenland name the market reached for on Monday. The company controls the Tanbreez heavy rare earth project in southern Greenland after the Government of Greenland approved the transfer of the final 50.5% interest in April, taking its ownership to 92.5%, with European Lithium retaining 7.5%.

Earlier this month, Critical Metals outlined further details of its mine-to-metals strategy, including a study for a proposed Romanian joint venture refinery designed to process up to 100,000 tons per year of eudialyte concentrate. The company reported greater than 99% dissolution of Tanbreez concentrate into 19 high-purity rare earth products in testing, and said its preliminary modeling indicates an NPV10 of approximately $4.5 billion for the refinery, with a preliminary capital estimate of $1.85 billion. It describes those figures as preliminary assumptions subject to further feasibility work.

MP Materials Corp. (NYSE: MP) is the domestic incumbent, operating the Mountain Pass mine in California and a growing magnet business in Texas. In its second quarter 2026 results, MP reported NdPr production of 840 metric tons, up 41% year over year, and NdPr sales of 1,006 metric tons, up 127%. Consolidated revenue rose 89% to $108.5 million.

MP also signed a significant long-term offtake agreement with a new American aerospace and defense customer for separated gadolinium during the quarter, extending its heavy rare earth business, and launched Project Swarm to aggregate demand and standardize magnet specifications for the drone industry.

USA Rare Earth, Inc. (Nasdaq: USAR) has moved quickly to secure feedstock of its own. On September 4, the company completed its combination with Serra Verde Group, pairing Serra Verde's upstream heavy rare earth operation in Brazil with USA Rare Earth's processing, metallization and magnet-making capabilities. The company describes the combined business as one of the only fully integrated rare earth and permanent magnet platforms outside Asia.

Days later, USA Rare Earth broke ground on a rare earth metal and magnet manufacturing facility in Blacksburg, South Carolina, representing an expected investment of approximately $1.2 billion and about 490 manufacturing jobs. Thras Moraitis, formerly CEO of Serra Verde, is set to become CEO of the combined company on October 1, 2026.

TMC the metals company Inc. (Nasdaq: TMC) represents a very different answer to the same problem: polymetallic nodules on the Pacific seafloor, rich in nickel, cobalt, copper and manganese. In August, the company announced that NOAA had published its U.S. subsidiary's consolidated application for an exploration license and commercial recovery permit in the Federal Register, following a determination of full compliance earlier in the year.

TMC has said it expects the regulatory path to result in a permit before the end of the first quarter of 2027. It has also signed a contract with strategic partner Allseas for the development and operation of the first commercial nodule collection system, with a nameplate capacity of 3.0 million wet tonnes per year and commissioning targeted to begin in the fourth quarter of 2027, subject to regulatory approvals.

Taken together, these companies show how wide the net has been cast. Washington and its allies are pursuing domestic mines, allied-country deposits, recycling, new processing chemistry and even the ocean floor. What the Greenland agreement adds is a clearer political frame around one of the largest untapped sources in that search.

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Article Sources

Greenland Mines Ltd., GlobeNewswire, Sept. 21, 2026: https://www.globenewswire.com/news-release/2026/09/21/3365568/0/en/greenland-mines-more-than-doubles-control-position-in-the-sarfartoq-rare-earth-magnet-district-in-west-greenland.html
Greenland Mines Ltd., GlobeNewswire, Sept. 18, 2026: https://www.globenewswire.com/news-release/2026/09/18/3364978/0/en/greenland-mines-applauds-historic-u-s-denmark-greenland-security-agreement-reinforcing-greenland-s-strategic-importance-to-the-united-states.html
Critical Metals Corp., GlobeNewswire, Sept. 16, 2026: https://www.globenewswire.com/news-release/2026/09/16/3363176/0/en/critical-metals-corp-nasdaq-crml-achieves-breakthrough-tanbreez-heavy-rare-earth-results-99-dissolution-of-eudialyte-concentrate-into-19-ultra-high-purity-rare-earth-products-refin.html
Critical Metals Corp., April 17, 2026: https://www.criticalmetalscorp.com/greenland-government-approves-transfer-of-final-50-5-of-tanbreez-taking-critical-metals-corp-to-92-5-ownership/
MP Materials Corp., Aug. 6, 2026: https://investors.mpmaterials.com/investor-news/news-details/2026/MP-Materials-Reports-Second-Quarter-2026-Results/default.aspx
USA Rare Earth, Inc., GlobeNewswire, Sept. 4, 2026: https://www.globenewswire.com/news-release/2026/09/04/3356489/0/en/usa-rare-earth-completes-combination-with-serra-verde-group.html
USA Rare Earth, Inc., GlobeNewswire, Sept. 9, 2026: https://www.globenewswire.com/news-release/2026/09/09/3358813/0/en/usa-rare-earth-breaks-ground-on-advanced-rare-earth-metal-and-magnet-manufacturing-facility-in-blacksburg-south-carolina.html
TMC the metals company Inc., Aug. 19, 2026: https://investors.metals.co/news-releases/news-release-details/noaa-publishes-tmc-usas-consolidated-application-exploration/
TMC the metals company Inc., SEC exhibit: https://www.sec.gov/Archives/edgar/data/0001798562/000110465926061202/tm2614595d1_ex99-1.htm

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MEL and/or its owners, operators, directors, and affiliates own shares of Greenland Mines Ltd. which were purchased in the open market, and reserve the right to buy and sell, and will buy and sell, shares of Greenland Mines Ltd. at any time without any further notice commencing immediately and ongoing, in the open market, through private placements, and/or through other investment vehicles. There may also be third parties who hold shares of Greenland Mines Ltd. and may liquidate their shares, which could have a negative effect on the price of the stock.

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Cautionary Note Regarding Mineral Resources and Technical Information. The scientific and technical information concerning the ST1 Mineral Resource Estimate referenced in this article was prepared by Ronald G. Simpson, P.Geo., of GeoSim Services Inc., with technical and engineering support from Hassan Ghaffari, P.Eng., M.A.Sc., of Tetra Tech Canada Inc., and the Sarfartoq Initial Assessment was prepared by Agricola Mining Consultants Pty Ltd. under the direction of Malcolm Castle, MAusIMM, each described by the Company as an independent Qualified Person under S-K 1300; the applicable Technical Report Summaries have an effective date of July 31, 2026. The Skaergaard Mineral Resource Estimate referenced in this article is from the Technical Report Summary prepared by SLR Consulting (Canada) Ltd. with an effective date of July 3, 2026. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. The Initial Assessment is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that the results of the Initial Assessment will be realized. No Mineral Reserves have been estimated for the Sarfartoq or Skaergaard projects. NPV figures cited are high-case pre-tax figures from a preliminary study and are not a forecast of value. The applied-for license area contains no Mineral Resource and is an exploration opportunity only; interpretations of historical geochemical and aeromagnetic data are conceptual and are not evidence of mineralization. The license application remains subject to review and approval by the Government of Greenland, and no assurance can be given regarding its timing, terms or outcome.

Cautionary Note Regarding the U.S.-Denmark-Greenland Security Agreement. As of the date of this article, the agreement has been announced but not signed, its full text has not been published, and it remains subject to ratification by the Danish and Greenlandic parliaments. Descriptions of its terms are based on public statements and media reporting and may differ from the final text. Greenland Mines Ltd. is not a party to the agreement, and nothing in the agreement as described grants the Company or any other company named in this article any mineral right, permit, offtake, funding or government contract. References to share-price movements are historical, reflect market sentiment, and are not indicative of future performance.

References to Critical Metals Corp., MP Materials Corp., USA Rare Earth, Inc. and TMC the metals company Inc. are provided solely as market and sector context. Those companies are not peers, competitors, or financial comparables of Greenland Mines Ltd., were not involved in the preparation of this article, and their results are not indicative of Greenland Mines Ltd.'s prospects. No partnership, affiliation, or endorsement is implied. Market and price data attributed to third parties are third-party estimates and have not been independently verified.

Forward-Looking Statements. This publication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding the potential grant of exploration licenses, the advancement of the Sarfartoq and Skaergaard projects, potential resource growth, future production, the effect of the U.S.-Denmark-Greenland security agreement, and market demand for rare earth elements. Words such as "expects," "anticipates," "intends," "plans," "believes," "potential," "could," "may," "will" and similar expressions identify forward-looking statements. These statements are based on current expectations and are subject to risks and uncertainties, including exploration, metallurgical, permitting, environmental, infrastructure, financing, commodity-price and political risks, that could cause actual results to differ materially. Readers should not place undue reliance on forward-looking statements and should review the risk factors in Greenland Mines Ltd.'s filings with the U.S. Securities and Exchange Commission at www.sec.gov. We undertake no obligation to update forward-looking statements except as required by law.

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