Greenland Mines Ltd. (Nasdaq: GRML) has signed a diamond drilling contract with Arctic specialist Nordisk Fundering A/S for a roughly 7,500-metre, three-rig 2026 campaign at its Skaergaard precious and critical metals project in southeast Greenland. The program is designed to push one of the West's largest palladium-gold-platinum deposits from a big resource toward a development-ready, open-pit-scale project.
Drilling Contract Marks Transition from Planning to Execution
On June 22, 2026, Greenland Mines announced the signing of the contract to execute the 2026 field campaign at its 80%-owned Skaergaard project. The helicopter-supported diamond core program serves several objectives: advancing resource categories, gathering fresh metallurgical material for processing work underway with GTK Mintec, and collecting geotechnical data needed to evaluate a future open pit. According to the company, gathering pit-wall and rock-mass data indicates that the project is moving beyond asking whether metal is in the ground to asking how a mine might actually be built.
Strategic Importance in a Concentrated PGM Market
Global platinum-group metals (PGM) supply is overwhelmingly concentrated in Russia and South Africa, with Zimbabwe a distant third. This roster, in the current geopolitical climate, represents a list of vulnerabilities rather than a secure supply chain. Palladium and platinum are indispensable to autocatalysts, hydrogen fuel cells, electronics, and a range of industrial and defense applications. Western governments have spent the past few years waking up to how little of that supply they actually control.
The price action has reflected that anxiety. Palladium has rebounded sharply from its 2024 lows, and the PGM basket price reported by producers has climbed back above US$3,000 per ounce in early 2026, driven by structural supply deficits and constrained output from legacy producing regions. Against that backdrop, a large, undeveloped PGM deposit sitting in Greenland—a jurisdiction firmly inside the Western and EU orbit—carries a strategic premium that did not exist a few years ago. Skaergaard is exactly that kind of asset.
Project Details and Next Steps
The 7,500-metre drilling campaign is scheduled to begin in 2026 and will be supported by helicopters for access. The data collected will be used to advance resource categories, with the goal of moving the project toward feasibility. Greenland Mines describes Skaergaard as one of the largest undeveloped palladium, gold, and platinum resources in the world. The company is also working with GTK Mintec on processing studies to optimize recovery methods.
