Greenland Resources has received a nonbinding letter of interest from the Nordic Investment Bank for up to US$120 million in potential funding to support the company.
According to Greenland Resources, the proposed funding would be provided through one or more facilities covered by export credit agencies. Any financing remains subject to further due diligence and has not been committed.
The Nordic Investment Bank is the international financial institution of the Nordic and Baltic countries. It holds AAA and Aaa credit ratings from S&P Global and Moody’s, respectively.
The letter follows Greenland Resources’ binding long term offtake agreements with two major Scandinavian steel producers. It also adds to an earlier expression of interest from Export Development Canada for up to US$275 million, with EDC expressing interest in supporting the company as a mandate lead arranger.
The stated maximums in the two expressions of interest total US$395 million. Neither represents a final financing commitment.
The Malmbjerg project has a 30-year exploitation license for molybdenum and magnesium. Greenland Resources says the project contains proven and probable reserves totaling 245 million tonnes and projects average annual production of 32.8 million pounds of contained molybdenum during its first ten years.
Molybdenum is commonly used in stainless steel and other alloys to increase hardness, strength and resistance to heat and corrosion.
The European Commission included Malmbjerg among the priority critical raw materials projects highlighted under its RESourceEU plan in December 2025.
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