Kvanefjeld is a large-scale rare earth project with the potential to become the most significant western world producer of critical rare earths.
The project is located in southern Greenland in an area with year-round direct shipping access. To date, over 1 billion tonnes of mineral resources (JORC-compliant) have been delineated in the project area, across three different zones – Kvanefjeld, Sørensen and Zone 3.
Kvanefjeld has a number of unique attributes that make it attractive as a development opportunity. Mineralisation occurs as massive, bulk mineral resources, mostly outcropping, resulting in low mining costs. The ores are conducive to simple, cost-competitive processing. Once processed, the product can be exported year-round via direct shipping ports, providing a significant cost advantage to potential European customers.
Collectively, these attributes can potentially make Kvanefjeld a globally significant supplier of rare earths for many decades.
Kvanefjeld will consist of a mine, a concentrator and refinery, producing a mineral concentrate containing 20-25% rare earth oxide that will be upgraded to high-purity intermediate rare earth products in the refinery. The concentrator and refinery will also produce various by-products for sale, reducing the operating costs of the operation through revenue offsets.
Rare earth products are forecast to generate over 80% of the project’s revenue, with by-products contributing to the balance.