Greenland Mines Applies for License to More Than Double Sarfartoq Footprint

09:55 AM EDT, 09/21/2026 (MT Newswires) -- Greenland Mines (GRML) has submitted an application to the Greenland government for a new license covering about 262 square kilometers east of its existing Sarfartoq license, MEL 2020-32, the company said Monday. If granted, the new license would more than double the company's footprint in the Sarfartoq area to around 454 square kilometers, Greenland Mines said. Sarfartoq is a carbonatite-hosted rare earth project enriched in neodymium and praseodymium, which are the principal rare earth elements used in high-performance permanent magnets, according to a statement. The company's shares were up more than 150% after the opening bell on Monday. Price: 7.22, Change: +4.37, Percent Change: +153.33