24.3 C
Belgrade
Supported byspot_img
spot_img

Greenland Minerals and Energy advances permitting

Member of Europium Groupspot_img
Supported byspot_img

The company is finalising its environmental and social impact assessments.

Greenland Minerals and Energy  has made another step forward in progressing its mining licence application for its flagship Kvanefjeld Project in Greenland.

The services of consulting company Shared Resources, have been engaged to assist in finalising required environmental and social impact assessments.

Supported by

Shared Resources has extensive experience with regulatory systems in developing countries, which will be of considerable benefit during the mining license application process.

The next step of this process involves the social impact assessment and environmental impact assessment being accepted by the Greenland government.

After this is complete, the next phase of the process will be a period of public consultation.

In parallel to project permitting, Greenland Minerals is working with strategic partner Shenghe Resources Holding Co Ltd to optimise Kvanefjeld and improve its cost‐structure.

Following meetings in China in February and the establishment of a joint technical committee, work programs have been planned and implemented.

Kvanefjeld Project

Greenland Minerals’ vision is to develop a stable, long-term source of materials for clean energy generation and energy efficient technologies.

Kvanefjeld is one of the world’s most advanced rare earth and uranium projects with defined JORC compliant resources of over 1 billion tonnes containing 11.1 million tonnes of rare earth oxide and 593 million pounds of uranium.

As per the updated feasibility study, the net present value of the project is US$1.59 billion and the internal rate of return is 43.4%.

Project financing costs are US$831.9 million and the project has a payback period of 5 years.

Shenghe partnership

Greenland Minerals recently commenced the technical cooperative program with its strategic partner and 12.5% shareholder, Shenghe.

This strategic relationship with Shenghe represents a major landmark for Greenland Minerals and the development of its flagship Kvanefjeld rare earths and uranium project.

The fundamental objective of both parties is to develop the Kvanefjeld rare earth and uranium project in Greenland as a cornerstone to new supply networks.

The relationship with A$2+ billion market cap Shenge is significant given its expertise in mining, beneficiation, metallurgy, separation and downstream processing and marketing.

This significance has been captured by a re-rating in the share price, now trading up over 40% year to date at $0.10.

Source: proactiveinvestors

 

Supported byElevatePR Digital

Related News

Canada Nickel reveals initial resource estimate for Deloro project, underscoring Timmins District prospects

Canada Nickel has announced the initial mineral resource estimate for its Deloro nickel sulphide project, located in Ontario's Timmins-Cochrane mining camp. This estimate marks...

Resouro Strategic Metals unveils extensive resource estimate for Tiros titanium and rare earths project

Resouro Strategic Metals, a recent entrant into Brazil’s rare earths sector, has unveiled a significant resource estimate for its Tiros project located in Minas...

NMMC targets $1 billion investment in 2024 to expand gold production capacity

Navoi Mining and Metallurgical Combine (NMMC), the world’s fourth-largest gold producer and Central Asia’s largest gold miner, has announced an ambitious investment program for...

U.S. and Kazakhstan strengthen energy partnership at 2024 Strategic Dialogue in Astana

On July 18, 2024, the U.S. Department of State and the Department of Energy, in partnership with Kazakhstan’s Ministry of Foreign Affairs and Ministry...
Supported by
Supported by
Supported by
error: Content is protected !!