PERTH (miningweekly.com) – ASX-listed Greenland Minerals and Energy will meet with top government officials in Greenland next week to clarify claims that the country would adopt a zero-tolerance policy towards uranium mining.
The company has requested a voluntary share trading halt this week, following the speculation, which could affect its Kvanefjeld rare earth elements/uranium/sodium fluoride project in that country.
“While the company does not normally respond to media interpretation, it has taken the proactive step to protect shareholders from market speculation about this sensitive issue, and has requested a voluntary suspension pending meetings with the Prime Minister of Greenland, the Minister of Mines and the Head of the Bureau of Mines and Petroleum to clarify these claims,” said Greenland MD Roderick McIllree on Tuesday.
The meetings were scheduled for August 10 and August 11.
McIllree said that the company’s shares would remain in suspension until then.
“Greenland Minerals is confident that the future work programmes to further evaluate the Kvanefjeld project will proceed as currently anticipated,” he added.
The Kvanefjeld multielement deposit is located near the southwest tip of Greenland. Prefeasibility studies indicate that the vast resources could sustain a large-scale, economically robust mining operation for decades.
The project could potentially supply 20% of global rare-earth element demand at low cost, owing to revenues from uranium and zinc.
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