Greenland Minerals and Energy progressing US$1.59 billion clean energy project

22 March 2018

Greenland Minerals and Energy Ltd (ASX:GGG) owns 100% of the large-scale Kvanefjeld Project in Greenland.

It is projected to be one of the largest producers globally of key magnet metals along with by‚Äźproduction of uranium and zinc. 

A globally significant project Greenland Minerals' vision is to develop a stable, long-term source of materials for clean energy generation and energy efficient technologies.

Kvanefjeld is one of the world's most advanced rare earth and uranium projects with defined JORC compliant resources of over 1 billion tonnes containing 11.1 million tonnes of rare earth oxide and 593 million pounds of uranium.

As per the April 2016 updated feasibility study, the net present value of the project is US$1.59 billion and the internal rate of return is 43.4%.

Project financing costs are US$831.9 million and the project has a payback period of 5 years.

 

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