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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