05/12/2011 - 14:52

Greenland Minerals seeks mining partner

05/12/2011 - 14:52

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Greenland Minerals and Energy says it is seeking a development partner for its flagship Kvanefjeld multi-element project in Greenland, after the Greenland government granted it the right to apply for a uranium mining licence covering the deposit.

The Perth-based company announced today that the government of Greenland had amended the mining licence covering the Kvanefjeld project to include radioactive metals, including uranium, along with any other minerals at the project.

“This landmark decision by the Greenland government demonstrates continued support for the project,” Manging director Roderick McIllree said.

“The significance of this event is that it now allows the company to move into alignment with a strategic partner.

“The company currently has CA’s signed with four consortiums regarding development scenarios.”

The amendment comes approximately one year after the Greenland government issued the miner an evaluation permit, to allow uranium to be included in the company’s feasibility studies for the project.

Greenland said today that the granting of a mining licence would be dependent on a successful feasibility study.

At close of trade today, Greenland stocks had gained 3.4 per cent, to finish at 60.5 cents.

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