ASX-listed Greenland Minerals, a subsidiary of Energy Transition Minerals. Shenghe Resources has acquired a 12.5% interest in the company.The Kvanefjeld project is underpinned by the world’s biggest code-compliant rare earths resource.
An optimised feasibility study was completed in May 2019, showing recovery improvements across the light and heavy rare-earth elements. The improved rare-earth recoveries have increased the projected output of commercially important rare earths to 4 260 t/y for neodymium oxide, 1 420 t/y for praseodymium oxide and 270 t/y for dysprosium oxide.
Energy Transition Minerals has been battling for an exploitation licence at Kvanefjeld since 2021, when the Greenland government passed an Act banning uranium prospecting, exploration and exploitation, which made the development of the Kvanefjeld rare earth project more costly.