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Greenland Minerals Touched Fresh 52-Week High on ASX After Kvanefjeld’s EIA Approval for Public Consultation

  • September 23, 2020 05:41 PM AEST
  • Team Kalkine
Greenland Minerals Touched Fresh 52-Week High on ASX After Kvanefjeld’s EIA Approval for Public Consultation

Summary

  • Greenland Minerals has made significant progress on the permitting process of its 100% owned Kvanefjeld Rare Earth Project.
  • Greenland’s Environmental Agency for Mineral Resource Activities (EAMRA) has reviewed the Kvanefjeld’s Environmental Impact Assessment (EIA).
  • The EIA meets all requirements of the EIA Guidelines for public consultation.
  • All aspects of Kvanefjeld are based on international environmental standards and the principles of ‘Best Available Technology’ and ‘Best Environmental Practice’.
  • Translations of Greenlandic and Danish versions of the EIA report are likely to conclude in October.
  • Greenland Minerals will now consider the public consultation phase, and ensuing actions to finish Kvanefjeld’s permitting.
Gold MTF non-AMP

Greenland Minerals’ (ASX:GGG) shares garnered considerable market attention on 23 September 2020. The shares touched a fresh 52-week high of $ 0.33 following the Company’s announcement that Kvanefjeld Project’s EIA Report has finally been accepted for public consultation.

Greenland shares zoomed up by 15.7 % to $ 0.29 on 23 September 2020. The shares have delivered whopping returns of 249.32 % in the past six months.

ALSO READ: Greenland Minerals: Scan Through 1H20 Kvanefjeld Project Developments

Kvanefjeld’s EIA Progress- “A Major Project Milestone”

EAMRA advised that the independent scientific reviews of the Kvanefjeld EIA along with supporting studies have concluded. Moreover, the EIA has been assessed to meet the requirements of the EIA Guidelines for public consultation.

According to the company, the EIA process has been thorough, detailed, and comprehensive. It offers a high degree of stakeholder confidence in Greenland Mineral’s world-class Kvanefjeld Project.

The Implication of EIA Review Completion

Due fulfilment of the EIA Guidelines translates into the fact that all aspects of the Kvanefjeld Project are based on international environmental standards as well as the principles of ‘Best Available Technology’ and ‘Best Environmental Practice’.

MD John Mair opines that the conclusion of the independent technical EIA reviews as well as confirmation that the EIA duly meets Greenland Guidelines is “a major project milestone.”

The milestone further implies that Greenland Minerals can finally commence a public consultation phase and subsequent steps to complete the project permitting.

Expert Opinion

EAMRA stated that they were extremely satisfied with the way the review-revision process was conducted. The process demonstrated a “high degree of mutual flexibility and cooperation”, the Agency stated in its assessment.

Mr Mair has often stated that lodging the updated EIA was an utmost crucial action towards the Company securing a mining license for Kvanefjeld.

Source: GGG ASX Update

ALSO READ: Greenland Minerals Inching Towards Kvanefjeld Mining License, Approval of Exploitable Minerals Documentation Granted

Parties Involved In EIA Review Process

Danish Centre for Environment (DCE) handled the independent scientific reviews of the EIA. The Greenland Institute of Natural Resources further supported the DCE. Besides, Shared Resources, a specialist consultancy, conducted an independent review of the EIA and provided necessary assistance with the collation of the EIA report.

Other major contributing independent specialists for the technical aspects of the Kvanefjeld EIA include-

  • Arcadis
  • Danish Hydraulic Institute
  • Klohn Crippen Burger Limited
  • Environmental Resources Management
  • Orbicon A/S
  • Danish Technical University
  • Wood Group
  • GHD International
  • SRK Consulting

Way Forward

Source: GGG ASX Update

ALSO READ: Greenland Minerals Advances Kvanefjeld Project Amidst Broader Rare Earths Outlook

 

 


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