Proactive Investors - Run By Investors For Investors

Greenland Minerals and Energy shortens its name to Greenland Minerals

The company’s Kvanefjeld Project is envisaged to be a globally significant producer of rare earth materials.
Kvanefjeld project in Greenland
Rare earth elements are used in electric vehicle motors

Greenland Minerals and Energy Limited (ASX:GGG) has changed its name to Greenland Minerals Limited after receiving shareholder approval at the annual general meeting.

Greenland believes the new name is more concise whilst maintaining a clear reference to the company’s focus and activities.

The change of name has been registered by the Australian Securities and Investment Commission (ASIC).

Essential rare earth elements for electric motors

The company’s Kvanefjeld project in Greenland has a resource of over 1 billion tonnes containing 11.1 million tonnes of rare earth oxide and 593 million pounds of uranium.

The project is forecast to be the largest producer of key rare earth elements for electric vehicles.

These include neodymium, praseodymium and dysprosium which are essential to high-powered permanent magnets used in electric drive motors.

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

Prices of neodymium and praseodymium have been rising on the back of strong demand and tightening supply.

The new pro-mining government in Greenland has set the scene for the company to effectively move through the next steps in the permitting process, and gain project approvals.

View full GGG profile View Profile

Greenland Minerals Ltd Timeline

Related Articles

Unique design of the mid-body of the Optimum ship
October 02 2018
The company’s Optimum ship is being designed to optimise the transportation of compressed natural gas (CNG).
oil wells
November 22 2018
Highlands has been undertaking fracking operations at its East Denver acreage recently
Offshore oil rig
November 01 2018
Calculated EMV10s for the contingent resources stood at US$118mln and US$82mln for the prospective resources

© Proactive Investors 2019

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