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Greenland Minerals shareholders vote in favour of name change

Kvanefjeld is forecast to be the largest producer of key rare earth elements for electric vehicles.
board room seats empty
The company continues to progress towards receiving a mining licence

Greenland Minerals and Energy Ltd (ASX:GGG) has received shareholder approval to shorten its name to Greenland Minerals Ltd.

All five of yesterday’s annual general meeting (AGM) resolutions were passed, which also included the re-election of two directors, adoption of the remuneration report and ratification of placement shares.

READ: Greenland Minerals and Energy welcomes new pro-mining government in Greenland

Greenland Minerals owns 100% of the large-scale Kvanefjeld Project in Greenland.

It is projected to be one of the largest producers globally of key magnet metals along with by‐production of uranium and zinc.

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 April 2016 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 permitting continues with a focus on the social impact assessment (SIA) the environmental impact assessment (EIA) and the maritime safety study.

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