Greenland Resources Inc has announced the results of the NI 43-101 Definitive Feasibility Study for its 100% owned Malmbjerg Molybdenum project, located in east central Greenland. Greenland Resources Executive Chairman Dr Ruben Shiffman said “The Feasibility Study presents a very compelling economic case for the development of the Malmbjerg Molybdenum Project. We have chosen to prioritize the environment over CAPEX. For example, we are hauling our ore with an EU built rope conveyor that produces no CO2 instead of using cheaper diesel-powered mining trucks that would save us over USD 80 million in CAPEX but would generate a significant environmental footprint. We also designed our process plant operation to use salt water as process water, with very low reagent concentrations to mitigate any potential environmental contamination. Malmbjerg can be the industrial anchor for east coast development in Greenland, which is the nearest point to the EU. The Project can supply 25% of EU molybdenum demand with a very clean product from a responsible EU associate member. The EU is the second largest molybdenum consumer in the world and has no domestic production of its own.”----------------------------------Feasibility Study Highlights----------------------------------Twenty-year open pit mine life with average annual production in years 1-10 of 32.8 million pounds per year of contained molybdenum metal at an average grade of 0.23% MoS2 and average annual LOM production of 24.1 million pounds with a cash cost of US$6.38/lb MoMineral Reserves 245 million tonnes at an average grade of 0.176% MoS2 containing 571 million pounds of molybdenum metal with very low impurity elements ideal for European high performance steel productsEnvironmental mine design and process plant design focused on reduced CO2 emissions and water usagePotential to generate LOM corporate taxes of more than US$800 million to the Greenland Government3The Feasibility Study was prepared by Tetra Tech Canada Inc, along with contributions from Knight Piesold Ltd, Paterson & Cooke USA Ltd, Moose Mountain Technical Services, Frontier Geosciences, Micon International Ltd, and PND Engineering.
Greenland Resources Inc has announced the results of the NI 43-101 Definitive Feasibility Study for its 100% owned Malmbjerg Molybdenum project, located in east central Greenland. Greenland Resources Executive Chairman Dr Ruben Shiffman said “The Feasibility Study presents a very compelling economic case for the development of the Malmbjerg Molybdenum Project. We have chosen to prioritize the environment over CAPEX. For example, we are hauling our ore with an EU built rope conveyor that produces no CO2 instead of using cheaper diesel-powered mining trucks that would save us over USD 80 million in CAPEX but would generate a significant environmental footprint. We also designed our process plant operation to use salt water as process water, with very low reagent concentrations to mitigate any potential environmental contamination. Malmbjerg can be the industrial anchor for east coast development in Greenland, which is the nearest point to the EU. The Project can supply 25% of EU molybdenum demand with a very clean product from a responsible EU associate member. The EU is the second largest molybdenum consumer in the world and has no domestic production of its own.”----------------------------------Feasibility Study Highlights----------------------------------Twenty-year open pit mine life with average annual production in years 1-10 of 32.8 million pounds per year of contained molybdenum metal at an average grade of 0.23% MoS2 and average annual LOM production of 24.1 million pounds with a cash cost of US$6.38/lb MoMineral Reserves 245 million tonnes at an average grade of 0.176% MoS2 containing 571 million pounds of molybdenum metal with very low impurity elements ideal for European high performance steel productsEnvironmental mine design and process plant design focused on reduced CO2 emissions and water usagePotential to generate LOM corporate taxes of more than US$800 million to the Greenland Government3The Feasibility Study was prepared by Tetra Tech Canada Inc, along with contributions from Knight Piesold Ltd, Paterson & Cooke USA Ltd, Moose Mountain Technical Services, Frontier Geosciences, Micon International Ltd, and PND Engineering.
