Greenland Resources Joins Cutting-Edge BOREAS Project to Advance Autonomous Mining Technologies
Greenland Resources Inc. (TSX:MOLY, FSE:M0LY) has officially partnered with Sweden’s Luleå University of Technology (LTU) and twelve other collaborators to participate in the innovative BOREAS initiative. This project focuses on the creation and deployment of autonomous robotic systems designed to enhance various facets of the Malmbjerg mining operation in Greenland. Under this collaboration, Greenland Resources A/S will benefit from a non-repayable grant of €489,125 (approximately C$800,000) awarded by the European Union’s Horizon Europe program, supporting applied research and implementation activities over the next four years. The total funding allocated to all BOREAS participants amounts to €7,104,660.
About the BOREAS Project: Revolutionizing Arctic Mining with Robotics
The BOREAS project-Beyond Outreach: Robotised Exploration and Mining in the Arctic Subsurface-was initiated by LTU and is financed through the Horizon Europe Cluster 4 program, which targets digital industry and space innovations. This initiative aims to deploy fleets of autonomous aerial and terrestrial robotic platforms, either as standalone units or integrated with existing mining machinery enhanced by advanced sensor technologies. These robotic systems are tailored to support the Malmbjerg project by performing critical tasks such as detailed mapping and continuous monitoring of open-pit mining operations, especially during the challenging Arctic winter months characterized by darkness and harsh weather.
One of the key applications includes remote geotechnical surveillance to detect potential hazards and identify distinct geological zones. Targeting these zones allows for specialized processing to recover valuable byproduct metals like magnesium. All collected data will feed into a sophisticated real-time digital twin-a virtual replica of the mine-that enables dynamic optimization of metal recovery rates, waste rock management, and environmental compliance. This digital integration is expected to significantly improve operational efficiency and sustainability.
Malmbjerg Project: A Sustainable and Strategic Mineral Resource in Greenland
Greenland Resources A/S, a wholly owned subsidiary of Greenland Resources Inc., is advancing the Malmbjerg project, a high-grade primary molybdenum deposit located in central east Greenland. This Climax-type deposit also yields magnesium as a valuable byproduct, a market currently dominated by China, which controls approximately 89% of global magnesium supply. The Malmbjerg mine is designed as an environmentally conscious open-pit operation, emphasizing reduced water consumption, minimal aquatic disturbance, and a compact footprint through modular infrastructure and innovative European-built technologies that lower emissions and operational costs.
According to the 2022 NI 43-101 Definitive Feasibility Study conducted by Tetra Tech, the project requires a capital expenditure of US$820 million and offers a leveraged after-tax internal rate of return (IRR) of 33.8%, with a payback period of just 2.4 years, assuming a molybdenum price of US$18 per pound. Proven and probable reserves stand at 245 million tonnes grading 0.176% MoS2, equating to 571 million pounds of contained molybdenum metal. The mine’s first decade will focus on extracting higher-grade ore averaging 0.23% MoS2, producing approximately 32.8 million pounds of molybdenum annually-about 25% of the European Union’s total yearly consumption and fully meeting its defense sector requirements.
In addition to molybdenum, the project utilizes around 35,000 cubic meters per day of saline water containing roughly 900 ppm magnesium. Greenland Resources is actively developing innovative extraction technologies to recover magnesium from this resource. The molybdenum concentrate also contains magnesium and rare earth elements, which the company plans to integrate into the project’s economic model. On June 19, 2025, Greenland Resources secured an exploitation license for both molybdenum and magnesium, further solidifying its strategic position.
Strategic Importance and European Support
The Malmbjerg project has been recognized as a priority initiative by the European Commission under the RESourceEU strategy, which aims to secure sustainable raw material supplies for Europe’s industrial future. The project is also endorsed by the European Raw Materials Alliance (ERMA), managed by EIT RawMaterials GmbH, an EU body dedicated to fostering innovation and responsible mining practices across the continent. This support underscores the project’s critical role in diversifying supply chains and reducing Europe’s dependency on external sources for essential minerals.
Qualified Oversight and Forward-Looking Perspectives
The technical disclosures and updates related to the Malmbjerg project and the BOREAS collaboration have been reviewed and approved by Mr. Jim Steel, P.Geo., M.B.A., a director of Greenland Resources and a Qualified Person under Canadian Securities Administrators National Instrument 43-101 standards.
It is important to note that this announcement contains forward-looking statements reflecting management’s current expectations regarding the BOREAS project’s potential to enhance mining operations and the company’s future plans. These statements are subject to risks and uncertainties, including technical feasibility, regulatory approvals, market conditions, and operational challenges. Greenland Resources continues to monitor these factors closely and will provide timely updates as developments occur.
About Greenland Resources A/S
Greenland Resources A/S is a Greenland-registered company operating as a 100% subsidiary of Greenland Resources Inc., focused on developing the Malmbjerg molybdenum and magnesium project. With offices in Nuuk, Greenland, and Toronto, Canada, the company is led by an experienced management team with deep expertise in mining and capital markets. The Malmbjerg project exemplifies a commitment to sustainable mining through innovative technologies and strategic partnerships, positioning Greenland Resources as a key player in supplying critical minerals to Europe and beyond.
