www.ggg.gl
Greenland Minerals and Energy Ltd, is a mineral exploration and development company, focused on unlocking the mineral riches of Greenland, one of the world’s last natural resource frontiers. Our aim is simple; to identify large mineral deposits with the potential to underpin long term, economically robust mining operations. This is achieved through technically-focused exploration, aggressive resource development programs, and a strong understanding of the fundamentals that drive the business of mineral exploration and development globally.
Our flagship project is Kvanefjeld, a multi-element deposit located near the southwest tip of Greenland. Through focused exploration, Kvanefjeld is rapidly growing to become one to the world’s largest undeveloped deposits of rare earth elements, uranium and naturally occurring sodium fluoride, commodities with long term forecasts for strong demand increases.
Greenland Minerals and Energy builds team for feasibility work at Kvanefjeld project in Greenland
Greenland Minerals and Energy (ASX: GGG) is ramping up its technical capacity to facilitate the feasibility program at the Kvanefjeld Multi‐Element Project in southern Greenland.
In 2010, the Government of Greenland introduced a clear framework in which projects that include radioactive elements can be fully evaluated through a Definitive Feasibility Study (DFS) in order to issue an exploitation (or mining) license.
Greenland Minerals and Energy is now aiming to deliver a DFS for Kvanefjeld as it is a unique tier‐one asset and has the potential to become one of the world’s largest and most cost‐effective producers of rare earth elements.
The company has been building a project team over the last eight months, increasing the number of full‐time staff to 20 in Australia and 11 in Greenland.
The project team is led by Shaun Bunn, GMEL’s Chief Operating Officer, and Damien Krebbs heads the growing metallurgy department that includes expertise in mineral beneficiation and hydrometallurgical leaching.
The company has recently appointed two new staff members in the area of Social Responsibility and Environmental Management, and has also appointed a Commercial/Marketing Manager.
The company is also running a mineralogical program externally through the University of British Columbia in Canada.
In Greenland, excluding additional exploration staff, the company is currently employing seven people engaged in the management of the Greenlandic subsidiary.
The company said this group maintains a focus on stakeholder relations in Greenland, and ongoing logistical management within country.
In addition, four Greenlandic drillers are being trained up as drill foremen to assist with ongoing resource development programs, and the training of new Greenlandic employees.
GMEL said it is is fully funded to September 2011 by the exercise of the options that expire 30 June 2011. The company is currently in discussions with a number of investment banks and broking firms in regard to the underwriting of these options.
On March 31 the company delivered a significant upgrade in the resource estimate at the project effectively confirming Kvanefjeld as one of the world’s most significant resources of rare earth elements and uranium.
SRK Consulting increased the JORC Indicated resource 20% to 437 million tonnes, and the total resource 35% to 619 million tonnes.
The contained metal inventory is; 6.6 million tonnes of total rare earth oxide (TREO), 350 million pounds of U3O8 and 3 billion pounds of zinc.
