Currently developing its flagship and 100%-owned project - the Kvanefjeld Rare Earth Project, Greenland Minerals Limited (ASX:GGG) has intimated that production of by?products from the Project may deliver economic and environmental benefits. So much so, rare earths (RE) are forecasted to contribute over 90% of Project revenues.
Upon development, the Project will be one of the world’s largest producers of RE, producing in excess of 30k tpa of rare earth oxide (equivalent) in an intermediate product, comprising of very significant quantities of the critical magnet RE neodymium, praseodymium, terbium and dysprosium. Moreover, the Project will recover a series of by?products during production of the RE intermediate product and produce commercially significant quantities of uranium oxide, zinc concentrate, and fluorspar.
Reportedly, incremental cost of by?product recovery is low while revenue generated through it may contribute to lower production cost of RE. Subsequently, by-product recovery may remove environmentally adverse elements from tailings streams, shunning overall environmental impact.
GGG was up 3.7% at $ 0.14 on 9 July 2020 (AEST 12:07 PM).
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