Greenland Minerals Provides Update on Kvanefjeld Project Optimisation Program
Subiaco, WA / December 7, 2017 / JMN Wire / Greenland Minerals and Energy (ASX: GGG) (‘GMEL’ or ‘the Company’) is pleased to update on the optimisation program that is progressing with leading rare earth company and major shareholder Shenghe Resources Holding Co Ltd (Shenghe). Shenghe have world class and proven technical expertise in all aspects of the rare earth value chain from mine to the production of high‐purity oxides and metals.
The Kvanefjeld Project, 100% owned by GMEL, is underpinned by a JORC‐code compliant resource of >1 billion tonnes, and an ore reserve estimate of 108 million tonnes to sustain an initial 37 year mine life. It is projected to be one of the largest producers globally of key magnet metals including neodymium, praseodymium, dysprosium and terbium, along with by‐production of uranium and zinc.
GMEL Managing Director Dr John Mair commented:
“The metallurgical improvements achieved by Shenghe to date are extremely significant, and set the scene for an exciting 2018 as we roll‐out the integration of Shenghe’s leading rare earth technology and sector experience with the world’s most significant emerging rare earth project in Kvanefjeld. The concentrator circuit is just one of a number of focus areas, but increases in the order of 60% in rare earth concentrate grade will have a profoundly positive impact on the efficiency and coststructure of the Kvanefjeld Project. Of further importance, a grade of approximately 23% REO opens the opportunity to investigate the direct sale of mineral concentrates, that would serve to facilitate a staged development strategy with a low initial capital outlay. We will update the market as further results of the optimisation program are available.”
- Mineral concentrate grade increased to >23% REO with mineral recovery standards maintained; a 64% increase from concentrate grade of 14% used in Feasibility Study (2016)
- Mineral concentrate grade optimisation drives substantial reduction in operating costs
- Significant reduction in Capital Expenditure expected and staged development optionality
- Commencement of investigations into direct mineral concentrate sales from Greenland
- Test work ongoing, further technical and developmental improvements upcoming