80 Mile PLC (LSE:80M) has signed a Binding Head of Terms agreement with USFM Corporation, establishing a strategic partnership to advance the Disko-Nuussuaq project in Greenland. Under the terms of the deal, USFM will invest $30 million to earn a 51% interest in the project, which is prospective for copper, nickel, cobalt, and platinum group elements (PGE).
The partnership is designed to accelerate drilling and resource definition while leveraging 80 Mile’s operational expertise. As project operator, 80 Mile will oversee exploration activities and receive a management fee as part of the agreement. The collaboration represents a major step toward unlocking Greenland’s mineral potential and supports efforts to strengthen global supply chains for critical minerals.
More about 80 Mile PLC
80 Mile PLC is a multi-listed exploration and development company, trading on AIM, FSE, and OTC markets. The company holds a diversified portfolio of mineral projects across Greenland, Finland, and Italy, with a primary focus on advancing high-value resource opportunities in Greenland — a region with growing strategic importance in global commodity supply.
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