ZERO-TOLERANCE

kvanefjeld630
Greenland Minerals & Energy drilling for rare earth metals in Kvanefjeld Southgreenland. Photo: GME

Removing the zero-tolerance might give Greenland a golden uranium future

 
Source: The Engineer, ing.dk, by Birgitte Marfelt
 
17. JAN. 2012
A multi-mine, where there is not only extracted zinc and rare earth metals, but also uranium, is now the golden future perspective for Grønland Minerals & Energy Ltd(GME), after Greenland’s government in December lifted its previous zero-tolerance to uranium.
With it’s recent authorization to investigate radioactive elements, the Greenlandic politicians abandoned their previous restrictive policy on uranium. It allows a very good business in Kvanefjeld near the southern tip of Greenland.
On it’s website predicts GME that Kvanefjeld near Narsaq can cover a fifth of the global demand for rare earth metals, and that mining of uranium and zinc will be a superior business.
Rare earth metals are used in everything from smart phones to cruise missiles. One of them can be transformed into super magnets, which plays a central role in wind turbine generators.
Currently the world’s electronics and cleantech companies awaits the REE extraction in Greenland, as the current extraction almost exclusively takes place in China.
Mining for billions
GME consider Kvanefjeld to be it’s flagship, and now plans to invest billions in the multi-mine, over a lifetime of at least 50 years, with an an annual production of rare earth metals as well as a secondary product of uranium oxide.
»But before you really know the economics of the project, the many unknowns must be eliminated,« said state geologist Leif Thorning from Geus, who for years has worked with Kvanefjeld geology and exploitation.
»You need to know how the rock should be taken out, and how you pick out elements of the ore without touching uranium and how it should be transported, etc. To get the necessary knowledge to decide, we need to complete the surveys. And we could not finish theese, with the 0-tolerance«.
See more at Greenland Minerals & Energy LTD’s website