January 20, 2026 — Leads & Copy — Greenland Resources Inc. (TSX:MOLY, FSE:M0LY) has signed a memorandum of understanding (MOU) with GMH Gruppe SE & Co. KG (GMH) for long-term molybdenum supply.
The agreement follows a Dec. 3, 2025, press release where the European Commission presented RESourceEU, mentioning Greenland Resources’ Malmbjerg project in Greenland as a priority EU project.
GMH is a European producer and processor of steel long products, special bar quality, tool steels, forgings, and castings, and a pioneer in sustainable steel production using electric arc furnaces based on scrap recycling, generating 80 percent fewer CO2 emissions than conventionally produced steel.
The MOU sets the stage for a long-term supply agreement covering ferro-molybdenum, molybdenum-oxide, and briquettes produced from molybdenum ore extracted in Greenland by Greenland Resources, to be refined in Belgium. GMH will secure a stable, responsibly sourced, long-term molybdenum supply with high sustainability standards and low scope 1&2 emissions from an EU associate country.
GMH supplies customized steel solutions from over 15 production sites, primarily in Germany. Key markets include the automotive, energy, raw materials, aerospace, defense, agricultural, construction machinery, tooling, mechanical engineering, and transportation sectors.
Honourable Tim Hodgson, Canada’s Minister of Energy and Natural Resources, noted that last year he signed a Declaration of Intent with Germany to Strengthen Cooperation on Critical Minerals. In October 2025, the Government of Canada issued a communique highlighting Greenland Resources’ contribution to the Italian steel sector. Hodgson is pleased to see Greenland Resources contributing to the German steel industry, calling it an example of how the Canadian government is working with international partners to secure economic and trade opportunities for Canadian businesses.
The EU, the second-largest molybdenum user worldwide, possesses a large processing capacity but lacks extraction capabilities. Germany, the largest user in the EU, classifies molybdenum in the highest risk “category 3” of the Germany Criticality List of strategic raw materials. Molybdenum is also included in Canada’s critical minerals list.
GMH Gruppe is a full-service provider of steel products, from scrap-based steelmaking to ready-to-install components. It comprises more than 20 medium-sized steel, forging and casting industry sites, serving customers in over 50 countries. With around 6,000 employees, GMH Gruppe generates annual revenues of over 2 billion euros. GMH Gruppe is committed to achieving full climate-neutrality by 2039.
Greenland Resources is focused on developing its 100%-owned Climax-type primary molybdenum deposit in central east Greenland. The Malmbjerg project is an open-pit operation with an environmentally friendly mine design. The project benefits from a NI 43-101 Definitive Feasibility Study completed in 2022, with an US$820 million capex and a levered after-tax IRR of 33.8% and payback of 2.4 years, using US$18 per pound molybdenum price.
Proven and Probable Reserves are 245 million tonnes at 0.176% MoS2, for 571 million pounds of contained molybdenum metal. Average annual production for years one to ten is 32.8 million pounds per year of contained molybdenum metal at an average grade of 0.23% MoS2, approximately 25% of EU total yearly consumption and 100% of EU defence needs. The Company was awarded an exploitation license for molybdenum and magnesium on June 19, 2025.
The Project is supported by the European Raw Materials Alliance (ERMA).
The EU is the second largest molybdenum user worldwide, has large processing capacity, produces the best specialty steel products worldwide but has no molybdenum extraction. Green energy technologies, steel and defence are the key drivers for market growth. The Greenland Resources strategically located Malmbjerg project has the potential to supply approximately 25% of the EU demand of environmentally friendly high-quality primary molybdenum from a responsible EU Associate country for decades to come, as well as 100% of EU defence molybdenum consumption.
More than 80% of the metallic materials to be used for defence applications require molybdenum alloying. The primary molybdenum in the Malmbjerg project is ideal for EU defence and high-performance steel applications because of low deleterious elements and long-term security supply.
Source: Greenland Resources Inc.
