PERTH (miningweekly.com) - ASX-listed Greenland Minerals and Energy went into a trading halt on Thursday, pending an announcement of its flagship multi-element Kvanefjeld project, in Greenland.
Greenland took full ownership of the Kvanefjeld project in August this year, buying the outstanding 39% interest of the northern Ilimaussaq complex from project partner Westrip Holdings and Rimbal.
The Kvanefjeld’s project is underpinned by the world’s largest Joint Ore Reserves Committee-compliant resource of rare-earth oxides, with substantial resources of uranium and zinc.
The Kvanefjeld project is estimated to host a total resource of some 619-million tons, with 437-million tons estimated to be in the indicated category. The contained metal inventory includes 6.6-million tons of rare-earth oxides, 350-million pounds of uranium oxide, and three-billion pounds of zinc.
Initial studies have indicated that the project could be developed as a large-scale multicommodity mining operation with one of the world’s largest rare-earth production capacities.
Greenland was expected to resume trading on December 5.