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Greenland Minerals’ stock soars as Kvanefjeld White Paper preparations advance

Highlights

  • Greenland Minerals Limited (ASX:GGG) has well-advanced the preparation of the White Paper for its 100% owned Kvanefjeld rare earth project in Greenland, likely to be complete by mid-October 2021.
  • The Company has also been communicating with Greenland’s Mining License and Safety Authority (MLSA) to ensure that transcripts of the recent public meetings are made available soon.
  • The statutory consultation period was initiated by the Greenland Government on 18 December 2020 and closed on 13 September 2021. 

The stock of rare earths exploration and development company Greenland Minerals Limited (ASX:GGG) traded up by over 8%, mid-day on 17 September 2021. The upsurge was a likely consequence of an upbeat market update that stated that Greenland Minerals is progressing well with the preparation of the White Paper, after the Kvanefjeld rare earth project’s public consultation period recently closed.

RELATED READ: Taking stock of Greenland Minerals' recent progress as stock surges

Share price rises

Source: Copyright © 2021 Kalkine Media

The White Paper is a document comprising of all hearing comments from the public consultation period/ the hearing period. It will address all issues raised during public consultation or in submissions to the Government.

White Paper progress report

The public consultation phase is an important milestone in the Greenlandic Government's formal decision-making process. For Greenland Minerals, it paves the way to the issuance of an exploitation license for the Kvanefjeld Project.

Following completion of the consultation period, Greenland Minerals and the Government are bound to respond to issues raised during the process, as per law. These responses are then collated in a document referred to as the White Paper.

The White Paper must set out all issues regarding the Kvanefjeld Project raised during public consultation- either in submissions directly to the Government or in public meetings, with the Company’s responses to these issues.

INTERESTING READ: Here’s why Greenland Minerals opted out of Kvanefjeld public meetings

As per Managing Director John Mair, the preparation of the White Paper is well advanced-

  • Responses to issues raised during the first round of public meetings and submissions made in the 36 weeks of the public consultation period are mainly complete. 
  • Numerous submissions were received by Government in the final days of consultation. Greenland Minerals has started to develop responses to these submissions.   

Besides, the Company has been in talks with Greenland’s MLSA to make sure that transcripts of the recent public meetings are made available soon. This will help identify any final issues for inclusion in the White Paper.

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

White Paper

It is good news that Greenland Minerals has been able to address most submissions made to the Government, along with most issues raised during public consultation meetings. This has been done after referring to material contained in the Company’s impact assessments and the expert reports which were commissioned to support the assessments.

Notably, Greenland Minerals believes that the White Paper responses will be completed within the next few weeks/ mid-October 2021.

GOOD READ: Greenland Minerals continues Kvanefjeld Project developments across Q2 2021

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