Greenland Minerals Ltd Advances Preparation of White Paper After Public Consultation on Kvanefjeld Project
The exploration and development company aims to supply rare earths to power renewable energy markets through its Kvanefjeld asset.
Greenland Minerals Ltd (ASX: GGG, OTC: GDLNF) is set to complete its white paper report on the Kvanefjeld rare earth project in Greenland after a public consultation.
The exploration and development company is developing its wholly-owned Kvanefjeld asset as a large-scale, low-cost, long-term producer that will supply rare earths to renewable energy markets.
With the public consultation now closed, Greenland intends to address all issues raised during the period and through government submissions in the next report.
Greenland plans to complete its white paper by mid-next month.
Tracing the path to Kvanefjeld
Speaking on the update in a market announcement on Friday, Greenland Minerals managing director John Mair said preparation for the WP was well advanced.
“The WP represents an opportunity to provide simple and clear explanations to the submissions made during the consultation process and to identify where more details can be found in the environmental impact assessment and associated technical reports.
“The results of the public consultation will play an important role in guiding future stakeholder engagement and shaping the way forward for the Kvanefjeld project. “
Shares were up to 12% higher intraday at $ 0.14A.
The white paper
As Greenland continues to develop its Kvanefjeld asset, it must meet a set of regulatory standards, one of which includes the preparation of the White Paper following public consultation.
The government of Greenland launched the statutory consultation period, during which members of the public could submit their comments on the project, in December last year.
That period officially ended on September 14, which means Greenland can now draft the white paper for consideration.
The documentation will address any issues raised during the public consultation or in submissions to government.
So far, responses to questions raised in the first round of public meetings and in submissions made during the first 36 weeks of the public comment period are largely complete.
Several submissions were received by the Government of Greenland in the last few days of consultation, so the company has started responding to these submissions.
Greenland has also been in communication with the Mining License and Safety Authority to ensure that transcripts of recent public meetings are made available as soon as possible to identify any final issues to be included in the document.
GGG expects its responses to the white paper to be completed in the coming weeks.
The Kvanefjeld rare earth project in Greenland is described as one of the largest and most advanced emerging rare earth projects in the world.
The project is unique in terms of metallurgy and forecast production profile, which concerns all rare earths of commercial importance.
Kvanefjeld is close to existing infrastructure in South Greenland, with year-round direct maritime access to the project area.
Rare earth elements are essential to the electric vehicle revolution and renewable energy, as well as many other energy efficient applications.
The Kvanefjeld Project is expected to be a globally significant producer of all commercially important rare earth elements, including neodymium, praseodymium, terbium and dysprosium, with an initial lifespan of 37 years.
These rare earths are used to make high power permanent magnets which are used in electric vehicles and wind turbines, as well as in many other applications.
Greenland believes that Kvanefjeld is well positioned to meet the sharp increase in demand for rare earths that will be generated by the transition to electric vehicles, as well as the growth of renewables.