Greenland Minerals and Energy is poised to benefit from the Government of Greenland amending the terms of the company’s exploration license that covers the world class Kvanefjeld multi element project such that it is now inclusive of uranium.

Highlighting the potential of Kvanefjeld, the project hosts the largest occurrence of rare earths as defined by internationally recognized standards, 350 million pounds uranium and 3 billion pounds of zinc. Under the licensing framework in Greenland, the licensee maintains the right to apply for an exploitation license for all exploitable elements listed on the exploration license.

Importantly the exploration license now includes radioactive materials, providing the company with the clear right to apply for the exploitation of radioactive elements along with all other exploitable elements which brings the potential production of heavy rare earths into play. The granting of the exploitation license will be dependent on establishing an environmentally and socially sustainable development scenario that is economically robust.

Mr Roderick McIllree MD of Greenland Minerals said that "The company expects in the first few months of next year to announce its final flow sheet that will almost certainly see Kvanefjeld optimized on heavy rare earth production, underpinned by an economic keel of uranium production."

The company also anticipates it will stockpile, in easily accessible form, the light rare earths in a way that has little to no economic consequence to the company, thereby removing the market risk of being required to sell the light rare earths at a time the company expects they will be in oversupply.

He said that this development scenario is a paradigm shift in the way Rare Earth projects will move forward in the future and one which the company is confident the market will recognize as the only sustainable mechanism to produce REO’s long term.

Mr McIllree went on to say that this landmark decision by the Government demonstrates continued support for the project. The significance of this event is that it now allows the company to move into alignment with a strategic partner. The company currently has CA’s signed with four consortiums regarding development scenarios. All stakeholders recognize the economic and strategic importance of Kvanefjeld and associated satellite ore bodies.

He said that the inclusion of uranium onto the company’s license allows the company to now work within the existing framework of assessment as defined by Greenland and demonstrates a willingness by all parties to work together to realize what is a generational opportunity.

(Sourced from www.proactiveinvestors.com.au)