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Taking stock of Greenland Minerals' recent progress as stock surges

Highlights

  • During the half-year ended 30 June 2021, Greenland Minerals Limited’s (ASX:GGG) primary focus was the public consultation and permitting for its 100% owned Kvanefjeld rare earth project.
  • Public consultation meetings, a essential part of the broader public consultation process for the Kvanefjeld Project, were recently held across southern Greenland.
  • The Company has commenced preparation of detailed responses to issues raised during the public consultation phase for the White Paper- a collated document addressing all hearing comments.

Greenland Minerals Limited (ASX:GGG) is involved in the mineral exploration and project evaluation of the Kvanefjeld Rare Earth Project. The Project is underpinned by a JORC-code compliant resource of >1 billion tonnes, and an ore reserve estimate of 108 million tonnes to sustain an initial 37-year mine life. It offers a new, simpler path to rare earth production than traditional refractory sources.

Located near the southern tip of Greenland near existing infrastructure, Kvanefjeld has year-round direct shipping access to the project area. It is one of the world’s most important emerging rare earth project, well-positioned to see Greenland become a globally significant supplier of materials that are key to an energy efficient, and environmentally sustainable future.

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

Kvanefjeld Project setting in Southern Greenland, Source: PDAC 2020 Mining Conference Presentation

The Company has reported its progress for the half year ended 30 June 2021. Let us acquaint with the same and then understand the way forward-

Highlights of Greenland Minerals’ HY21

The primary focus during the reporting period was on the public consultation and permitting for the Kvanefjeld Project.

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

Statutory Public Consultation

The statutory public consultation of the Project’s Environmental Impact Assessment (EIA) and the Social Impact Assessment (SIA) was initiated on 18 December 2020 and was scheduled to run through to 13 September 2021. This marked an essential milestone in the Greenlandic Government's formal decision-making process in relation to the issuance of an exploitation license for the Project.

Public consultation meetings were held in major towns in southern Greenland. Representatives of the Ministry for Mineral Resources, the Environmental Agency for Mineral Resource Activities, a representative of the Danish Centre for Environment, Company representatives attended the meetings. In the later part of the year, there was political representation as well. During these meetings, the outcomes of the environmental and social impact assessments were explained and discussed.

A twist in the statutory public consultation meetings?

A new coalition government made up of the Inuit Ataqatigiit (IA) and Naleraq parties formed in Greenland in April 2021. While the new Government opposed the development of the Project, it was part of the public consultation meetings in August.

Greenland Minerals was not part of the second round of community meetings because of changes in the format and conduct of the meetings. There was no formal obligation for the Company to participate in these meetings, that were scheduled primarily for politicians from the new Government to discuss the project with the various communities.

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

Additionally, the Government has put forward draft legislation for consultation to ban the exploration and exploitation of uranium, a naturally occurring radioactive element. However, the Project is likely to release tiny amounts of extra radioactivity to the environment.

Public Consultation White Paper Progress

Once the consultation period is over, Greenland Minerals and the Government need to respond to the various issues raised during the process. These responses will be collated in a document referred to as the White Paper.

The Company informed that-

  • To date, issues raised in public meetings held in communities in southern Greenland during February 2021 have been directly lodged via the Government’s online portal for the project consultation.
  • Additional questions are expected to arise from the second round of public meetings in August.
  • The Company has begun the preparation of detailed responses to each of these issues for the White Paper with support from key consultants.
  • Responses are being prepared by reference to material contained in the impact assessments or in the consultant’s reports prepared to support the assessments.
  • To date all submissions received have either related to matters that have been addressed in the impact assessments or the supporting documents or are issues not relevant to the impact assessments.

GOOD READ: Greenland Minerals (ASX:GGG) Building An Integrated Global Rare Earth  Supply Business

Ongoing Environmental Baseline Studies

Greenland Minerals has completed additional environmental baseline studies in the broader project area. This has been designed to help with stakeholder understanding of the Project and increases the understanding of chemical dispersion by natural processes.

On 14 September 2021, GGG traded up by 15.38% at A$0.15 on the ASX.

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