Greenland Minerals Limited (ASX:GGG) is an exploration and development company listed on the Australian Securities Exchange. The Company has been operating in Greenland since 2007, with its key focus to develop the Kvanefjeld rare earth project in southwest Greenland.
Significantly, the Kvanefjeld Project is well-positioned to become the cornerstone to global rare earth supply. When developed, the Kvanefjeld project is likely to turn out to be a large-scale, long-term and low-cost supplier of products, central to the unfolding revolution for efficient energy usage.
There has been explosive adoption of rare earths in clean energy, batteries and smart tech, touching almost all aspects of lives from offshore wind turbines to the latest smartphones.
Rare earths are essential to ensure a smart and climate-friendly future as they diminish the dependence on fossil fuels. Thus, they are the leading driver for the growth of several emerging clean energy technologies contributing to reducing harmful ecological implications such as greenhouse emissions. Macro-outlook for rare earth demand is strong amidst several Government-led initiatives to encourage the green shift.
The Kvanefjeld project is demonstrated to have unique and highly advantageous strengths. The outcomes of a comprehensive feasibility study highlight the strong potential backing the production of rare earth elements, which effectively facilitates the electrification of transport systems.
In addition, the Company intends to produce rare earths from Kvanefjeld in an environmentally sustainable manner. It would further differentiate the Company as a preferred supplier of rare earth products to end-users globally.
The Company plans to continue the progress of the Kvanefjeld project in a way that will be in accordance with both local community and Greenlandic Government expectations. It is eyeing continued stakeholder discussions around the social and economic benefits related to developing the Kvanefjeld Project.