Uranium Mining in Southern Greenland
Energy Transition Minerals (formerly Greenland Minerals Ltd) (Stock Symbols – ASX: GGG, OTCMKTS: GDLNF) is a development stage rare earths and uranium mining company operating in south west Greenland near the town of Narsaq.
Kvanefjeld Project – A Giant Uranium and Rare Earth Elements Deposit
Ownership of the Kvanefjeld rare earth project
Energy Transition Minerals owns a 100% interest in the company’s flagship project – the massive Kvanefjeld rare earths project located in southern Greenland in the Narsaq Valley.
Global Needs Could Be Satisified By This Mine
Energy Transition Minerals’ Kvanefjeld project is a rare earth deposit that is highly sought after due to the transition to a low emission economy. The project is positioned to be a cornerstone to global rare earth supply. The deposit has commodities that are in high demand for new technologies and sustainable development.
Environmental, Social and Governance (ESG)
The Kvanefjeld development will be undertaken in line with the highest environmental, social, and governance practices. This will ensure that the project provides long-term sustainable benefits to the people of Greenland.
Mining Development and Operations Features
Kvanefjeld is a unique mineral deposit that offers many advantages for this uranium mining developer. The minerals are found in massive, bulk quantities and are mostly exposed at the surface, making extraction relatively easy and inexpensive. The ore can be processed simply and cheaply, and the resulting product can be exported all year round via direct shipping ports, providing significant cost advantages for European customers. Kvanefjeld is an excellent opportunity for the company to develop a profitable mining operation with minimal investment.
Giant Resource Base
Incredibly, the Kvanefjeld rare earth project has over 1 billion tonnes of JORC compliant resources. Once online, this would make Energy Transition Minerals one of the most significant mining projects in Greenland – providing the world with possibly the largest uranium and rare earth products bases yet.
The deposit is anticipated to produce over 80% of its revenue generation from rare earth elements with uranium, zinc, and flourspar being by-products.
The deposit is also enriched with lithium, scandium, and zirconium.
Notably for uranium investors, the company has over 593 million pounds of JORC compliant uranium assets. The mineral assets are defined from three locations in the project area: Kvanefjeld, Sorensen, and Zone 3. These three zones contain a resource base that is one of the largest inventories of rare earth elements and uranium found anywhere on Earth.
A strategic partnership was formed in 2016 with its largest shareholder, Shenghe Resources, which itself is one of the major Chinese companies engaged in the mining, smelting and separation, and deep processing of rare earths – that provides the company with a major competitive advantage of rapid supply chain access to global consumers.
During the last few years working with Shenghe Resources, the company improved recoveries of resources while also reducing their annual operating costs by 40%. The two companies have worked hard to develop an optimized process for recovering mineral assets and improving the cost structure for the project.
The company notes that it will cost less than $4 per kilogram of REO net of by products to deliver this asset to the market, which makes it the lowest cost of undeveloped rare earth projects listed on the ASX.
The company projects an initial 37 year mine life with significant expansion available.
The Kvanefjeld uranium and rare earth project is located near a shipping port providing the company with a significant logistical advantage to deliver product to the market faster and cheaper.
The company was formerly known as “Greenland Minerals” and “Greenland Minerals and Energy Limited” and changed its name to Energy Transition Minerals in November 2022.
Energy Transition Minerals is headquartered in Subiaco, Australia.
Current Project Status
Energy Transition Minerals is a public company that has had to initiate legal action to protect its investment in Greenland. However, the company’s priority is finding a development path forward for the project. The new Government of Greenland has initiated a revised public consultation process, and there is scope to modify the development strategy to realign with Greenland’s outlook and the global agenda.
There is still uncertainty as to the outcome of these proceedings, but Greenland Minerals is actively engaging with all stakeholders.
Energy Transition Minerals
Unit 7, 100 Railway Rd
Subiaco WA 6008 (Australia)
Phone: +61 8 9382 2322
Email: [email protected]
Energy Transition Minerals Stock Performance & Market Cap
Stock Symbols – ASX: GGG, OTCMKTS: GDLNF
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