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Greenland Minerals continues Kvanefjeld Project developments across Q2 2021

Summary

  • Greenland Minerals Limited (ASX:GGG) focusses on developing the Kvanefjeld Rare Earth Project in southern Greenland.
  • Kvanefjeld has the potential to be developed as a large-scale, low-cost producer of critical magnet rare earths.
  • Through Q2 2021, the Company has focused on activities relating to the statutory public consultation phase for the Kvanefjeld Project.

Australian explorer Greenland Minerals Limited (ASX:GGG) has been operating in Greenland since 2008. The Company is focused on developing the Kvanefjeld rare earth project, which has systematically advanced since 2008.

Located near the southern tip of Greenland near existing infrastructure, Kvanefjeld offers a new, simpler path to rare earth production. It has the potential to be developed as a large-scale, low-cost producer of critical magnet rare earths (including neodymium, praseodymium, terbium and dysprosium).

INTERESTING READ: Will Greenland Minerals’ Kvanefjeld change the global rare earth supply landscape?

Q2 2021 marked another period of a substantial development for the Company. The focus was on activities relating to the statutory public consultation phase for the Kvanefjeld Project. Cash and cash equivalents at end of the quarter amounted to AUD 33,080 K.

Let us skim through the major developments made by Greenland Minerals across the period-

Progress of Kvanefjeld statutory public consultation phase

The consultation period commenced in late December 2020 and was recently extended until 13 September 2021.

The first round of public meetings was held in south Greenland in February 2021. Representatives of Greenland’s Ministry for Mineral Resource, the Environmental Agency for Mineral Resource Activities and the Danish Centre for Environment attended it. The next public meetings will be held in weeks 34 and 35 (late August) and will have political representation.

MUST READ: A bird’s eye view of Greenland Minerals’ ongoing public consultation phase

Formation of new Government in Greenland

In April 2021, a new coalition government formed in Greenland with the Inuit Ataqatigiit (IA) and Naleraq parties. Notably, statutory consultations are a government-managed process. It is the role of the government and its appointed independent advisors to-

  • Decide when a project meets the Guidelines for public consultation
  • The duration of the consultation period
  • Provide an explanation as to how and why the impacts assessments are deemed to meet the guidelines after an extensive review revision process

ALSO READ: Greenland Minerals keen to connect with new Greenland Government over Kvanefjeld project

There has been another impact of the new Government-

It has put forward draft legislation for consultation to ban the exploration and exploitation of uranium. However, the detailed radiological studies that were conducted on the Kvanefjeld Project as part of the EIA concluded that the Project is expected to release only small amounts of additional radioactivity to the environment. It is not expected to result in an adverse effect, or much harm to wildlife/ people.

Public consultation white paper

Once the consultation period is complete, Greenland Minerals and the Government will respond to issues raised during the process. These responses are then collated in a document called the White Paper.

DON’T MISS: Significant update on Kvanefjeld public consultation sends Greenland Minerals’ stock soaring

To date, issues raised in public meetings have been directly lodged via the Government’s online portal for the project consultation. More questions are likely from the second round of public meetings next month.

Notably, Greenland Minerals has commenced preparation of detailed responses to issues for the White Paper with the help of key consultants.

Project location, Source: Company website

Additional environmental baseline studies

Greenland Minerals has completed additional environmental baseline studies in the broader project area. Designed to assist with stakeholder understanding of the Kvanefjeld Project, the studies increase the understanding of chemical dispersion by natural processes.

Mid-day on 29 July 2021, GGG was trading up by 2.32% at AUD 0.08.

GOOD READ: Q121 report ups Greenland Minerals’ hopes for Kvanefjeld rare earth project

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