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- Greenland Minerals (GGG) is one step closer to obtaining a mining licence for its Kvanefjeld Rare Earth Project in South Greenland
- The Greenland Government said the key application documents for a mining licence meets Greenland’s Guidelines for public consultation
- This means the government has approved the public hearing for the Kvanefjeld Project
- The public consultation will commence today, December 18, and take around 12 weeks to complete
- GML says this is an important milestone in the Greenland Government’s formal decision-making process
- On the market this morning, Greenland is up 10.7 per cent and is trading at 3.1 cents per share
Greenland Minerals (GGG) has received an important tick of approval from the Greenland Government for its Kvanefjeld Rare Earth Project.
The government said the key application documents for an exploitation (mining) licence meets the Greenlands Guidelines for public consultation.
This means the government has approved the public hearing for the Kvanefjeld Project. The hearing documents include the Environmental and Social Impact Assessments in English, Greenlandic and Danish.
GML says this is an important milestone in the Greenland Government’s formal decision-making process.
The public consultation will commence today, December 18, and take around 12 weeks to complete. It will be conducted in towns and villages in South Greenland.
If the public approves the documents, the Greenlandic Government will process the application for an exploration permit.
“Formal acceptance of commencement of the public hearing phase is the culmination of many years of rigorous work and is a landmark moment for Greenland Minerals and a key step toward development of the Kvanefjeld Project,” Managing Director Dr John Mair said.
“It comes at a time where rare earth demand is set to undergo a major increase, driven by strong demand for rare earth magnets that are utilised in electric vehicles, wind turbines and energy efficient technologies,” he added.
Kvanefjeld is one of the most significant and advanced emerging rare earth projects in the world. It is located near existing infrastructure in southern Greenland, with year-round direct shipping access to the project area.
The project is forecast to be a significant producer of all commercially important rare earth elements, including eodymium, praseodymium, terbium and dysprosium, over an initial 37‐year mine life.
These rare earths are used to make high powered permanent magnets used in electric vehicles and other applications.
On the market this morning, Greenland is up 10.7 per cent and is trading at 3.1 cents per share at 12.56 pm AEDT.
