Greenland Minerals on cusp of another milestone
Aspiring rare earths metals producer, Greenland Minerals, is nearing completion of a major milestone in the ongoing technical development of its giant Kvanefjeld rare earths project in southern Greenland.
The finalisation of some five years of work on the company’s environmental impact assessment, or “EIA”, is now looming with Greenland’s Environmental Agency for Mineral Resource Activities providing a definitive pathway for the Perth based company to obtain the necessary approvals.
Greenland Minerals now has a clear to-do list to advance its EIA and refine all outstanding issues in order to satisfy the environmental regulators in country.
Managing Director Dr John Mair said: “Kvanefjeld is a significant project for Greenland and is therefore of considerable public interest. As such, the EIA review process has been thorough and in order to ensure that the EIA provides confidence to Greenland stakeholders and regulators”.
The additional work required by the regulator mainly surrounds concerns around tailings storage, which the company already appears to have well in hand, engaging an external consultant to complete the work over the next three months.
Management said it is confident that the project will not create any significant environmental impacts or issues for neighbouring communities.
The next stage of the process towards the development of the Kvanefjeld project will encompass formal public consultation and the advancement towards the completion of the necessary mining licencing processes.
Kvanefjeld is expected to have an impressive initial mine life of some 37 years based on the 108 million tonne ore reserve estimate. The mine will arguably host the largest global inventory of rare earth elements and uranium.
Greenland Minerals is positioning itself as a key enabler in the world’s green energy future with a clear path to market strategy and it has been successfully building relationships with Chinese downstream buyers.
The company continues to build a compelling case for the development of Kvanefjeld, which is likely to be a company maker for this committed rare earths player.
Is your ASX listed company doing something interesting ? Contact : email@example.com
Greenland Minerals (GGG)
Closing price for the last 90 trading days
Powered by Morningstar ®