Greenland Energy and Minerals breakthrough

Announcement:

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If you have read my earlier posts re GGG you’ll know that once GGG comes on line the world’s Rare Earths and in particular the Heavy Rare Earths future supply characteristics will be changed from deficit to surplus. (Market cap $220m)

Today’s announcement by GGG:

“Greenland Minerals and Energy Ltd (“GMEL” or “the Company”) is pleased to announce that the government of Greenland has amended the Company?s exploration license (EL 2010/02) covering the Kvanefjeld multi-element project such that it is now inclusive of uranium.

This license covers the northern Ilimaussaq complex and includes the world-class Kvanefjeld resource, in addition to emerging satellite deposits Zones 2 & Zone 3 (Table 1). Under the licensing framework in Greenland, the licensee maintains the right to apply for an exploitation (mining) license for all exploitable elements listed on the exploration license. Importantly EL 2010/02 now includes radioactive materials, providing the company with the clear right to apply for the exploitation of radioactive elements along with all other exploitable elements. The granting of an exploitation license will be dependent on establishing an environmentally and socially sustainable development scenario that is economically robust.”

indicates that Greenland Energy and Minerals is now substantially de-risked.

Follow this link to my www.australian-shares.com blog to a list of my earlier posts re GGG.

1 thought on “Greenland Energy and Minerals breakthrough”

  1. Greenland Government Introduces Uranium Licensing Framework for Kvanefjeld Rare Earth-Uranium Project

    PERTH, WESTERN AUSTRALIA, Dec 05, 2011 (MARKETWIRE via COMTEX) — Greenland Minerals and Energy Ltd (‘GMEL’ or ‘the Company’) (asx:GGG) is pleased to announce that the government of Greenland has amended the terms of the Company’s exploration license that covers the Kvanefjeld multi-element project such that it is now inclusive of uranium. Under the licensing framework in Greenland, the inclusion of uranium provides the company with the clear right to apply for the exploitation of uranium along with all other exploitable elements. The granting of an exploitation license will be dependent on establishing an environmentally and socially sustainable development scenario that is economically robust.

    Kvanefjeld is a project of international strategic significance; through the production of uranium oxide, Kvanefjeld can become a cost-effective cornerstone producer of critical REEs; the REEs essential to energy efficient technologies and that are forecast to be in short supply for many years to come. The Kvanefjeld resource in its own right includes the world’s largest JORC-code compliant resource of REEs, as well as a global top ten uranium resource. With the first resource estimates for Zones 2 and 3 slated for Q1 2012, the project’s overall resource base will increase substantially, further consolidating the northern Ilimaussaq Complex as a prolific ore-field of genuine global significance.

    The project is favorably located near existing infrastructure in southern Greenland. Deep water fjords provide direct shipping access to the project area, and an international airport is located approximately 35 km away. A nearby lake system has been positively evaluated for a hydro-electric scheme to power the Kvanefjeld project.

    Metallurgical studies are now investigating a leach circuit to extract uranium and heavy REEs from a beneficiated mineral concentrate. Light REEs will then be recovered from the residue at an independent, demand-driven rate, mitigating market risk associated with bulk light-REE production and pricing uncertainty. This approach will see the projects economics underpinned by uranium and heavy Rare Earth Elements production, with flexible, cost-effective light Rare Earth Elements production capacity; a significantly different approach too many other emerging rare earth producers.

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