Sign up Australia
Proactive Investors - Run By Investors For Investors

Greenland Minerals lodges EIA for large rare earths project

The environmental impact assessment will be reviewed in parallel to a public consultation period.
Greenland Minerals lodges EIA for large rare earths project
Kvanefjeld hosts one of the world's most significant rare earth elements deposits

Greenland Minerals Ltd (ASX:GGG) has lodged an environmental impact assessment (EIA) for its Kvanefjeld Rare Earths Project in Greenland.

This comes after extensive reviews by Greenland’s Environmental Agency for Mineral Resource Activities (EAMRA) and its advisory bodies since the draft EIA was submitted in late 2015.

The document was prepared by GHD Consulting in conjunction with Orbicon, with a number of other technical specialists contributing including Arcadis, the Danish Hydraulic Institute, SRK Consulting and the Wood Group.

The Kvanefjeld project is projected to be one of the largest global producers of key magnet metals including neodymium, praseodymium, dysprosium and terbium, along with by‐products of uranium and zinc.

READ: Greenland Minerals advances Kvanefjeld after inaugural safeguards inspection

The EIA will be reviewed in parallel to undergoing translation into Greenlandic and Danish in preparation for a consultation period.

Senior company representatives will be in Greenland early this month for meetings with government representatives to map out the timing of the public consultation period and follow-up steps.

READ: Greenland Minerals signs off-take MoU with strategic partner Shenghe, shares rise

Due to the consistent and constructive dialogue since lodgement of the draft EIA, there is a strong familiarity with the EIA content and supporting studies within EAMRA and their advisory groups.

This interchange has guided additional technical studies and the expansion of datasets which have been incorporated into the EIA, as well as allowing Greenland Minerals to address recommendations as they arise.

Additional environmental test work and monitoring is ongoing to ensure that the understanding of impacts is continuously being improved.

READ: Greenland Minerals continues to progress permitting steps for rare earth project

While Kvanefjeld is one of the world’s largest rare earths deposits, with a rare earth oxide resource of 11.1 million tonnes, it also hosts a large uranium resource inventory of 593 million pounds U3O8.

As it is recovered at low incremental cost, uranium stands to be an important by-product revenue stream.

READ: Greenland Minerals’ optimisation test work progressing to final pilot plant operations

A new Greenland Government was established in May and senior company personnel visited Greenland in June to discuss the project status.

Positive meetings were held with the mineral resource minister Vittus Qujaukitsoq, with a focus on establishing project timelines. 

Importantly, the coalition government has outlined a strongly supportive position toward mine development, and specifically support for rare earth production and associated uranium by‐production.

View full GGG profile View Profile

Greenland Minerals Ltd Timeline

Related Articles

oil and gas operations
July 24 2018
Prospect S offshore Namibia is Chariot's next shot at a big target, drilling is slated for the fourth quarter this year and it will be closely watched by investors
Paul Welch
August 30 2018
Production since the half year has risen to 4,400 barrels per day
offshore oil rig
May 08 2018
Life has been tough in the oil sector in recent years, but things started to pick up towards the end of 2017

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use