Greenland Minerals Ltd (ASX:GGG) (OTCMKTS:GDLNF) (FRA:G7P) has received approval from the Greenland Government to start the statutory public hearing phase for the Kvanefjeld Rare Earth Project in the country’s south.
This comes after the Greenland Government on December 17 accepted that the key application documents for an exploitation (mining) licence, meet the guidelines for public consultation.
This is an important milestone in the Greenlandic Government's formal decision‐making process in relation to the issuance of an exploitation licence for the Kvanefjeld Project.
“Well-positioned to be globally significant producer”
GML managing director John Mair said: “Kvanefjeld is a world‐class mine development opportunity for Greenland that is well-positioned to become a globally significant producer of rare earth materials that are critical to the important global agenda of reducing carbon emissions through the electrification of transport systems, and renewable energy.
“Formal acceptance of commencement of the public hearing phase is the culmination of many years of rigorous work and is a landmark moment for Greenland Minerals and a key step toward the development of the Kvanefjeld Project.”
Mair added: “It comes at a time where rare earth demand is set to undergo a major increase, driven by strong demand for rare earth magnets that are utilised in electric vehicles, wind turbines and energy-efficient technologies.
“We look forward to providing further updates on the final steps to a mining license.”
The statutory public hearing phase begins immediately and hearing documents consist of the Environmental and Social Impact Assessments in English, Greenlandic and Danish.
Project studies have undergone comprehensive reviews by the Greenland Government and their advisors have accepted that studies meet the country’s guidelines.
The Greenlandic Minerals Act stipulates that EIA and SIA reports are subject to public consultation.
This public consultation hearing period will be of 12 weeks, during which public meetings will be conducted in towns and villages in South Greenland.
Meetings will be attended by representatives of the Greenlandic Government and officials from the ministries of mineral resources and environment.
Also, independent scientific experts and representatives from the company will participate.
At the end of the hearing period, Greenland Minerals A/S (a 100% subsidiary of GML – and the holder of the Kvanefjeld licence), is required to address all hearing comments in a White Paper.
Following consultation with the authorities, final EIA and SIA reports incorporating outcomes of the public hearing are submitted to the Mineral Resources Authority.
The Greenlandic Government will then formally process the application for an exploitation permit for the Kvanefjeld Project.