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Greenland Minerals and Energy in trading halt pending uranium mining announcement

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Greenland Minerals and Energy (ASX: GGG) has requested a trading halt pending release of an announcement about a landmark approval for mining in Greenland.

The company has received an approval for its recent application to operate within the newly created terms and conditions for radioactive materials, specifically in regard to uranium mining.

The halt will last until an announcement is made or commencement of trading on Wednesday 15th December 2010.

On September 9 Greenland's government partially changed a decades-old ban on uranium mining in one of its most significant acts since gaining limited autonomy from Denmark a year ago.

The move could open the icebound and sparsely populated country to exploration for uranium and rare earths and gives a nod to an Australian mining company to develop a mine plan for what the company says is the world's biggest undeveloped deposit of rare earths.

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