viewGreenland Minerals Ltd

Greenland Minerals progresses Kvanefjeld Rare Earth Project along with strategic partner

The project will have an international focus and Europe will be an important market that will benefit from Kvanefjeld’s development. The downstream processing strategy may see intermediate products initially processed in China but a European processing strategy is the long-term aim.

Greenland Minerals Ltd - Greenland Minerals progresses Kvanefjeld Rare Earth Project along with strategic partner
There is a favourable project location in Greenland with ice‐free direct shipping access

Greenland Minerals Ltd (ASX:GGG) (GML) has had a highly productive and successful year in 2019 advancing its Kvanefjeld Rare Earth Project in Greenland toward development.

Key developments in 2019 included substantial reductions in both capital and operating costs for Kvanefjeld to demonstrate a highly competitive cost structure.

Major progress was also made in finalising the Environmental Impact Assessment (EIA), a key component of project permitting. 

GML is well-funded with a cash position of $8.6 million as at December 30, 2019.

Major shareholder with rare earth proficiency

Shenghe Resources Holding Co Ltd (SHA:600392), GML’s largest shareholder and strategic partner, has worked collaboratively with GML to add value and maximise the Kvanefjeld project’s potential.

Shenghe chairman Hu Zesong sees Kvanefjeld as the third major rare earth mine outside China, with its enrichment in neodymium, praseodymium, dysprosium and terbium elevating its significance.

Importantly, the significance of a major shareholder that has full proficiency across the rare earth value chain and, in particular, in downstream rare earth separation, is a huge advantage and a major benefit for GML.

GML–Shenghe meetings in Denmark

In early December 2019, GML managing director Dr John Mair joined a delegation from Shenghe to participate in the Confederation of Danish Industry’s Greenland‐focused conference, held in Copenhagen.

Shenghe chairman presented an overview to a cross-section of industry, government and media representatives from Greenland and Denmark on the outlook for the rare earth sector, Shenghe’s international growth strategy and significant role the Kvanefjeld project can play.

The visit to Denmark also provided the opportunity for a productive meeting of the Shenghe/GML delegation with Greenland’s Minister for Mineral Resources, Vittus Qujaukitsoq, to discuss the forward strategy for the Kvanefjeld project.

Kvanefjeld - key attributes

GML is at the forefront of a strategic evolution in rare earth supply. Rare earth demand is set to surge extensively owing to advances in technology and the critical role of rare earths.

Major changes are coming to global rare earth supply, with China looking to cap primary production in 2020, at a point when demand is set to surge.

Kvanefjeld has a number of key attributes that, when integrated with Shenghe’s downstream processing technology and capacity, can play an important role in new supply networks. These include:

  • Scale – largest code‐compliant rare earth resource, ore reserve for initial 37‐year mine life;
  • Simple mining with 1:1 strip ratio over initial 37‐year mine life;
  • Multiple by‐product revenue streams to strengthen project economics (uranium, zinc, fluorspar);
  • Rare earth minerals that allow for simple processing, which will be maximised by technical optimisation underway with Shenghe;
  • Strong economic metrics - low capital intensity and operating costs in a positive global macro environment; and
  • Favourable country and project location with ice‐free direct shipping access, international airport nearby.

Quick facts: Greenland Minerals Ltd

Price: 0.135 AUD

Market: ASX
Market Cap: $160.78 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Greenland Minerals Ltd named herein, including the promotion by the Company of Greenland Minerals Ltd in any Content on the Site, the Company...



Archer Materials looking to raise 3 million offering a Share Purchase Plan

Archer Materials ( ASX: AXE) CEO Dr Mohammad Choucair joined Proactive’s Steve Darling with news the company is looking to raise capital in a Share Purchase Plan which began June 1st. That plan will allow eligible shareholders the opportunity to purchase new Archer shares at a price of $0.60 per...

1 day, 17 hours ago

3 min read