The European Raw Materials Alliance backs Greenland exploration
Greenland Resources is developing its Malmbjerg Molybdenum Project in east Greenland.
The The European Raw Materials Alliance (ERMA) is backing Greenland Resources exploration to help secure finance and strengthen relationships with EU users, as Europe is the second-largest market for molybdenum but has no domestic production.
The energy transition will increase the demand for this critical mineral for renewable energy and storage such as wind, geothermal, solar and nuclear.
The ERMA aims to reduce European dependency on strategic and critical raw materials form outside Europe and promote environmental, social and governance standards.