Mind your Assets
Greenland Minerals and Energy is listed on the Australian Securities Exchange (ASX) and has a sole focus on identifying and developing high-quality mining assets in Greenland. The Company has been operating in Greenland since 2007.
2. What projects are you currently working on?
The company’s main focus is the Kvanefjeld specialty metals project in south Greenland. Kvanefjeld is underpinned by the worlds’ largest undeveloped resource of rare earth metals and uranium. The project is soon to enter the permitting phase, and then will be entering the development pipeline. Kvanefjeld is slated to produce a stream of critical rare earth concentrate, with by-production of uranium oxide, lanthanum and cerium products, zinc and fluorspar. By-product revenues will stand to make Kvanefjeld the lowest-cost producer of critical rare earth metals globally.
3. Why should investors be looking at Greenland Minerals and Energy now?
Prices for both rare earth metals and uranium are now on upward trends, following a few years of suppressed prices. China’s consolidation program of their rare earth industry is now having a positive effect on pricing, and demand for key rare earths is growing substantially. The outlook for uranium is also strengthening, with strong growth projections for nuclear power. This is excellent timing as Kvanefjeld moves toward the development phase. Rising prices will see renewed sector interest, and with Kvanefjeld being an advanced rare earth and uranium project, in a politically-stable, pro-mining country, Greenland Minerals and Energy is well positioned to capture broad market attention.
4. Greenland is seeking to become more independent of Denmark. Is this good or bad for you?
The relationship between Greenland and Denmark is evolving, and we’ve seen some significant changes in recent years. In some areas, we anticipate that Greenland and Denmark will maintain close working relationships, so it is very much a gradual transitionary process. Overall it has enhanced Greenland’s focus on developing natural resources, as greater political independence is dependent on building a stronger sustainable economy, and that requires new industry. Mining is clearly the best option. That is why it is an exciting time to be involved in Greenland.
5. What are the company’s goals for the next five years?
Our aim is to develop the Kvanefjeld project in close consultation with Greenland stakeholders. In the coming years we hope to see Kvanefjeld move through the permitting phase, into construction, and then production. Kvanefjeld could be the dominant mine by output, at the low end of the cost curve for many decades, so it is a really exciting project. We will also continue to keep our eye on new opportunities as there is such great potential in Greenland.