Neo Performance Materials Completes Transfer of Interest in Sarfartoq Project in Greenland

08:19 AM EDT, 09/02/2026 (MT Newswires) -- Neo Performance Materials (NEO.TO) has completed the transfer of its interest in the Sarfartoq carbonatite project in Greenland to Greenland Mines, Neo said Wednesday. Consideration totaled $35 million comprising $20 million in cash and $15 million in shares of Greenland Mines, Neo said. Under the terms, Neo will retain an equity stake and offtake rights in the project. "We remain invested in the project's success as both a shareholder and an offtake partner, while staying focused on Neo's midstream and downstream growth strategy, keeping our capital working where it generates the greatest value for customers and shareholders," Neo CEO Rahim Suleman said.