JOHANNESBURG (miningweekly.com) – The Greenland and Danish Parliaments have both passed legislation that will regulate uranium exports from Greenland to ensure that uranium mining and exports are conducted in accordance with Denmark’s international non-proliferation commitments.
Through this legislation, Denmark assumed responsibility for the application of international safeguards to ensure peaceful use of Greenland’s uranium and compliance with international treaties and conventions concerning uranium trade.
This would also clear the path for the international sale of uranium from Greenland, in accordance with the conditions established by the legislation, which would come into force on July 1.
ASX-listed exploration company Greenland Minerals & Energy (GMEL) highlighted the new legislative framework as a significant milestone for the company, as it confirmed that the right export framework would be in place for the development of its Kvanefjeld multi-element project, in Greenland.
GMEL MD Dr John Mair noted on Wednesday that the Parliamentary approvals set a solid foundation for Kvanefjeld’s progress. “The developments provide a further demonstration of Greenland’s efforts to support the resources industry and attract foreign investment,” he said.
GMEL added that a robust regulatory framework now implemented, extensive technical studies addressing project feasibility and completed environmental and social impact assessments, provided a solid foundation for the development of the Kvanefjeld project.