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Main ForumGGG Greenland Minerals and Energy able to supply 20%+ World's REEs

  • Greenland Minerals and Energy able to supply 20%+ Rare Earth Elements

    Greenland Minerals and Energy (ASX: GGG) capped off a busy March quarter gaining a new five year exploration license over northern Ilimaussaq Complex issued under Greenland’s new Mineral Resources Act, and endorsed by Greenland’s parliament.

    In addition, GMEL ticked a milestone with the release of an interim report on the Kvanefjeld pre-feasibility study.

    The report outlined a scope for a economically robust, largescale mining operation to produce a rare earth concentrate and uranium oxide.

    Significantly, the company was able to develop a viable process flow-sheet to produce both an REO and a uranium oxide product, with potential for Kvanefjeld to supply >20% of global Rare Earth demand at low cost, given revenues from sale of other products.

    Key outcomes of the study included:

    - At a processing rate of 10.8 Mt pa, nominal forecast annual production is equivalent to 43,729 tonnes of Rare Earth Oxide (REO), and 3,895 tonnes of U3O8, with a mine life of >23 years. At this level of production Kvanefjeld could potentially supply >20% of global rare earth demand as of 2015/2016.

    - Unit cost estimates are $29.61 USD/lb U3O8 and $3.36 USD/kg REO (as a mixed rare earth carbonate).

    Read the full article

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