Published on Tuesday December 14 2010
In a major step forward the government of Greenland has granted Greenland Minerals approval to fully evaluate its Kvanefjeld multi element project, inclusive of uranium which has long been an issue to overcome.
The project is a major rare earth and uranium deposit, however government policy on uranium mining has long been a roadblock towards development. Management has been steadily progressing this to take the project forwards.
The permit has been issued in accordance with the recent amendment to the standard terms for exploration licenses in Greenland that creates a framework for the evaluation of mineral deposits that includes Uranium, amongst other economic elements. Kvanefjeld is an unusual mineral deposit located near the southern tip of Greenland that is enriched in rare earth elements (REEs), Uranium and zinc, and
is widely known to contain one of the world’s largest resources of REEs.
is widely known to contain one of the world’s largest resources of REEs.
GMEL is the first company in Greenland to receive permitting for the evaluation of a project that includes Uranium. The permit has been issued following a hearing process in Greenland that involved the National Environmental Research Institute, the Ministry for Health, the Ministry of Domestic Affairs, Nature and Environment (NNPAN) as well as the South Greenland municipality. The permit is supplementary to the exploration license that covers Kvanefjeld and the broader northern Ilimaussaq complex (license 2010/02).
Critical components of a definitive, or bankable, feasibility study are the Environmental and Social Impact Assessments, which are to follow the guidelines established by Greenland’s Bureau of Minerals and Petroleum (BMP). At the completion of the definitive feasibility study, including the environmental
and social impact assessments the Company will lodge an application for an exploitation license with the BMP.
A definitive feasibility study is to be completed including environmental and social impact assessments that will lead to the company lodging and application for an exploitation license. A pre-feasibility study is to be completed next year before moving to DFS in the latter half of the year.
Today's ASX Announcement
Approval To Evaluate Uranium At Kvanefjeld
Click Image To Access Uranium Stocks Australia
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