at least 1 project got started there this month. More projects to follow?
September 25, 2015 - By The Arctic Journal
Signing of the Exploitation Licence and Impact Benefit Agreement for the Qaqortorsuaq/White Mountain (Naajat) Anorthosite project
'The IBA is one of the cornerstones and a strong tool in the long term work towards qualifying local Greenlandic labour to work in the mines and thereby putting a local footprint on the new upcoming mine projects in Greenland. The signing sends another strong signal to the mineral industry; mining in Greenland is here to stay and it is done in a sustainable way."
Refinery optimisations are expected to further contribute to other operational savings recently realised by the company, including a 14% slashing of total plant direct costs thanks to a reduction in expenses related to civil earth works.
Earlier this month, the company lowered capital costs for Kvanefjeld by $118 million by locating a refinery and concentrator at a single site, thus avoiding feasibility study assumptions that the facilities would be at different sites.
This estimated project CAPEX of $1.36 billion includes direct plant costs of $804.8 million. Ongoing optimisation in product recoveries, and third party infrastructure financing strategy could see further reductions in CAPEX.
More financial momentum this month was charted in a plan to raise A$6.1 million for finalisation of the mining licence application via a rights issue. Perth broker Patersons is underwriting the offer to the minimum subscription amount of $3 million.
Also, GGG chairman Anthony Ho added to company accounts by buying $6,400 worth of shares in an on-market purchase, taking his total holding up to 1.9 million shares. In July, Ho purchased $11,700 worth of GGG shares.
ASX-listed Greenland Minerals and Energy Ltd (GMEL) has announced positive results from the first phase of rare earth refinery pilot plant research at Outotec Oyj’s labs in Finland.
The Finnish processing company ran the plant for around 250 hours, utilising mineral concentrate from GMEL’s Kvanefjeld deposit in Greenland produced in May by the company’s concentrator pilot plant.
GMEL said that extraction rates of around 95% were achieved, exceeding the feasibility study assumption level of 77%. Phase two will consist of metathesis, where by the residues from phase one are conditioned with caustic chemicals to allow step three re-leaching, after which product precipitation can occur.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.