Australia’s Greenland Minerals (ASX: GGG) said on Wednesday it was seeking to engage in talks with Greenland’s authorities over its Kvanefjeld rare earth project, as the newly-formed government opposes the development.
The uranium and rare earths-rich Arctic island has gained notoriety in the past two years following former US President Donald Trump’s offer to buy it.
The move sought to partly help address Chinese dominance of the rare earths market, as the nation accounts for almost 80% of the global mined supply of the elements used in everything from hi-tech electronics to military equipment.
Greenland’s new coalition government, which consists of the Inuit Ataqatigiit (IA) and Naleraq parties, has publicly stated its intention to block Kvanefjeld’s development, due to the presence of uranium as a by-product.
Earlier this month, Greenland Minerals said uranium was of no great importance to its project, seeking to appease concerns. The miner had previously that revenues generated by the uranium and other by-products of the operation would help offset rare earth production costs.
For the rest of this article: https://www.mining.com/greenland-minerals-seeks-talks-with-new-govt-over-fate-of-rare-earths-project/