Greenland Mines Signs Definitive Agreement to Acquire Neo North Star Resources' Sarfartoq Rare Earth Project

May 21, 2026

Greenland Mines Ltd has entered into an agreement to acquire Neo North Star Resources, Inc., the owner of the Sarfartoq Nd-Pr rare earth project in southwest Greenland. The deal will be structured as a merger for total consideration of US$35 million (US$20 million cash and US$15 million in newly issued Greenland Mines shares), with Neo Performance Materials retaining offtake rights for up to 60% of future Sarfartoq production.

Buyers
Greenland Mines Ltd
Targets
Neo North Star Resources, Inc., Sarfartoq Rare Earths Project (Sarfartoq Carbonatite Complex / Sarfartoq Project)
Sellers
Neo North Star Resources, Inc. stockholders (including Neo Performance Materials)
Industry
Energy
Location
Greenland
Transaction Type
Buyout

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