Greenland’s parliament has passed a bill to ban uranium mining and exploration in the Danish territory, effectively blocking the development of the vast Kvanefjeld rare earths project, one of the world’s biggest.
The project was being developed by Australia’s Greenland Minerals (ASX: GGG). It was granted preliminary approval in 2020 and was on track to gain the previous government’s final endorsement.
While the miner hasn’t issued a statement on the matter, its shares were placed on a trading halt on Wednesday, pending “the release of an announcement”. Trading will remain suspended until Friday morning or the publication of the company’s statement”, it said in a notice to the Australian Stock Exchange.
The decision to ban uranium mining and exploration follows through on a campaign promise from the ruling left-wing party elected in April, which had publicly stated its intention to block Kvanefjeld’s development, due to the presence of the silvery-gray, radioactive metal as a by-product.
For the rest of this article: https://www.mining.com/greenland-bans-uranium-mining-blocking-vast-rare-earths-project/