Greenland Minerals Ltd (ASX:GGG) has welcomed the slight change to the ruling coalition government in Greenland.
The new coalition government includes the Democrat Party, which previously was not a part of the ruling coalition government.
Notably, the Democrat Party has entered into an agreement with the coalition to support key areas including mining, thereby strengthening the government’s position.
Government reaffirms support, next stage of licensing imminent
Furthermore, the government has reaffirmed its support for rare earth and associated uranium extraction.
It has acknowledged that with substantial research and assessment completed, the time to move the licensing process to the next stage of public consultations is imminent.
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Official acceptance of a mining licence application and public consultation requires submission of the EIA, SIA and the Maritime Safety Study in Greenlandic and Danish.
Translations of the Maritime Safety Study and the SIA are complete.
Translations of the EIA are scheduled for completion by the end of October.
Kvanefjeld has a JORC 2012 resource of 1.01 billion tonnes grading 1.1% rare earth oxides (REO) with a substantial uranium resource of 593 million pounds as well as zinc.