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Greenland Minerals updates rare earth project progress to Greenland and Danish representatives

Major shareholder Shenghe Resources Holding Co Ltd also attended the meetings in Denmark and addressed a conference.

Greenland Minerals Ltd - Greenland Minerals updates rare earth project progress to Greenland and Danish representatives
Shenghe’s Hu Zesong and Guo Xiaolei address the Greenland conference in Copenhagen

Greenland Minerals Ltd (GML) (ASX:GGG) and major shareholder Shenghe Resources Holding Co Ltd have held positive meetings in Denmark regarding the Kvanefjeld Rare Earth Project in Greenland.

The meetings, which involved Greenland and Danish government representatives and industry representatives, provided opportunities for the companies to update on technical progress being made at the project.

Shenghe representatives

Shenghe was represented by chairman and CEO Hu Zesong, secretary to the Board and GML director Guo Xiaolei and assistant manager, Investment and Development Ms Jean Fan while managing director Dr John Mair represented GML.

Also attending were Greenland’s Minister for Finance and Mineral Resources Vittus Qujaukitsoq, the head of Greenland’s business association Brian Buus Pedersen and representatives of the Danish Government and the Confederation of Danish Industry.

Permitting status updated

GML and Shenghe outlined the progress made at Kvanefjeld in 2019 and discuss the permitting status where substantial progress has also been made this year.

Shenghe’s Hu Zesong and Guo Xiaolei also addressed the Confederation of Danish Industry’s annual Greenland Conference on December 4.

They provided insights into the outlook for the rare earth market and the significance of Kvanefjeld as an important potential new international rare earth supplier.

European intentions

The duo also discussed Shenghe and GML’s joint objective of integrating and collaborating with European industry.

A pre-feasibility study for Kvanefjeld was finalised in 2012 while a comprehensive feasibility study was completed in 2015 and updated following pilot plant operations in 2016.

These studies demonstrated the unique and highly advantageous strengths of the project and outlined the potential for Kvanefjeld to be developed as a long-life, low-cost and large-scale producer of rare earth elements.

Quick facts: Greenland Minerals Ltd

Price: 0.135 AUD

Market: ASX
Market Cap: $160.78 m

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