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Greenland gets Chinese rare earths partner for Kvanefjeld

Greenland gets Chinese rare earths partner for Kvanefjeld

Photo by Reuters

24th March 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Junior explorer Greenland Minerals and Energy has signed a memorandum of understanding (MoU) with China Non-Ferrous Metal Industry’s Foreign Engineering and Construction (NFC) over the Kvanefjeld multi-element project.

The MoU set out a framework for both parties to cooperate in aligning the rare-earth concentrate from the Kvanefjeld project with NFC’s rare earth separation experience and capacity.

The Chinese firm has a new 7 000 t/y capacity rare earth separation facility planned, with all approvals currently in place. Once completed, the facility would represent one of the world’s newest, largest-capacity and most advanced rare earth separation facilities.

Under the terms of the MoU, both parties would increase the technical cooperation to assist in the completion of feasibility studies on Kvanefjeld, and finalise a mining licence application.

Greenland said on Monday that the timing was important as the technical exchange was designed to ensure that Kvanefjeld and NFC’s new separation facility were optimally aligned.

Both parties were aiming to establish a strategic cooperation agreement, and map out the structure of a business partnership and commercial considerations.

Furthermore, Greenland noted that the creation of a full value chain would have Greenland well-positioned to start marketing rare earths to end-users globally, and to secure offtake agreements.

Greenland was aiming for a staged development strategy for the Kvanefjeld  project, with initial mine throughput set at three-million tons a year, expanding to six-million tons a year.

Edited by Creamer Media Reporter

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