Proposed legislation changes to ban uranium prospecting, exploration and exploitation in Greenland will not affect Hudson Resources’ projects in that country, president Jim Cambon said on Thursday.
The ban does not cover other radioactive elements, such as thorium, although the proposed Bill gives government the option to extend this to other radioactive elements.
The proposed legislation will also not affect licences already granted.
Hudson’s Sarfartoq rare earth element (REE) project and Nukittooq niobium/tantalum project were granted an exploration licence in 2020. The licence did not provide any rights to radioactive elements and Hudson said that the work to date had shown that the Sarfartoq REE project did not contain elevated levels of uranium.
The Nukittooq project did have uranium values above background levels and the company said it would investigate how the uranium would be handled within government guidelines.
Hudson’s projects were not located near any communities and the company believed that they could be safely developed within government guidelines.
“We have built a strong working relationship with government and local communities and will engage in the consultation process. We are excited to continue to add value to our Nukittooq niobium/tantalum project while the increase in REE prices encourages us to further develop our Sarfartoq REE project which has over $3-billion in neodymium and praseodymium defined to date.
“Hudson wishes to capitalise on Greenland’s strategic location between the EU and North America and advance its portfolio of critical metals to provide a secure supply chain to these regions,” said Cambon.