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Greenland Resources Provides an Update on the EU Critical Raw Materials Act and Participation at the 2023 EIT / ERMA Raw Material Summit in Brussels, Belgium

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Greenland Resources is pleased to provide an update on today’s European Commission proposed comprehensive set of actions by the European Commission (the “EC”) to ensure the EU’s access to a secure, diversified, affordable and sustainable supply of critical and strategic raw materials to meet its Green Deal and digital objectives to be approved by the European parliament. In addition, from the 15th to the 17th of May, 2023, the Company plans to present the Malmbjerg molybdenum project at the EIT RawMaterials Summit in Brussels, Belgium and was asked to participate in a round table on responsible mining. The Company sees all these events as very positive for the Malmbjerg molybdenum project.

Highlights of EC’s press release about the proposed Critical Raw Materials Act

The EC, in their capacity as the executive body of the EU responsible for drawing up proposals for new European legislation, has proposed the Critical Raw Materials Act which aims to:

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Equip the EU with the tools to access and secure the sustainable supply of critical and strategic raw materials

Identify strategically important projects that would benefit from streamlined permitting and access to finance

Protect the environment by improving circularity and sustainability of critical raw materials

Set benchmarks for domestic capacities along the strategic raw material supply chain and to diversify EU supply by 2030 by at least 10% of the EU’s annual consumption for extraction, at least 40% of the EU’s annual consumption for processing, at least 15% of the EU’s annual consumption for recycling, and not more than 65% of the EU’s annual consumption of each strategic raw material from a single third country

Reduce the administrative burden and simplify permitting procedures for critical raw materials projects

Invest in research, innovation, and skills surrounding these goals

Create a European Critical Raw Materials Board to coordinate and provide advice for strategic projects’ access to finance

Related to the EIT Raw Materials Summit in Brussels, the Company was invited to speak in a round table discussion on Wednesday May 17 at 9am (CET) to discuss the importance of responsible mining in Europe, its social implications, and the road ahead on aspects of mining and processing. At another session, the Company is scheduled to present its “Greenland Molybdenum Project – Securing reliable high quality molybdenum supply for the EU Green Deal from a responsible EU associate source”.

Dr. Ruben Shiffman, Executive Chairman, commented: “The proposed European Critical Raw Materials Act adds to the good news of our molybdenum project in Greenland. The proposed act, which also aims to support strategic projects combined with the very positive feedback and documentation we have signed directly with European steel and chemical end users and the support we received in recent regulatory stakeholders’ meetings from the government of Greenland, local communities and others, adds to our conviction”.


Source: junior mining network

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