From Mining.com, November 10:
Greenland’s parliament has passed a bill to ban uranium mining and exploration in the Danish territory, effectively blocking the development of the vast Kvanefjeld rare earths project, one of the world’s biggest.
The project was being developed by Australia’s Greenland Minerals (ASX: GGG). It was granted preliminary approval in 2020 and was on track to gain the previous government’s final endorsement.
While the miner hasn’t issued a statement on the matter, its shares were placed on a trading halt on Wednesday, pending “the release of an announcement”. Trading will remain suspended until Friday morning or the publication of the company’s statement”, it said in a notice to the Australian Stock Exchange.
The decision to ban uranium mining and exploration follows through on a campaign promise from the ruling left-wing party elected in April, which had publicly stated its intention to block Kvanefjeld’s development, due to the presence of the silvery-gray, radioactive metal as a by-product.
The law, passed by parliament late on Tuesday, lines up with the new coalition government’s strategy to focus efforts on promoting Greenland as environmentally responsible.
It bans exploration of deposits with a uranium concentration higher than 100 parts per million (ppm), which is considered very low-grade by the World Nuclear Association.
The new regulation also includes the option of prohibiting exploration of other radioactive minerals, such as thorium.
Beyond fishingGreenland, a vast autonomous arctic territory that belongs to Denmark, bases its economy on fishing and subsidies from the Danish government.
As a result of melting ice in the poles, miners have become increasingly interested in the mineral-rich island, which has become a hot prospect for miners. They are seeking anything from copper and titanium to platinum and rare earths, which are needed for electric vehicle motors and the so-called green revolution.
Greenland is currently home to two mines: one for anorthosite, whose deposits contain titanium, and one for rubies and pink sapphires.
Before the April election, the island had issued several exploration and mining licenses in a bid to diversify its economy and eventually realize its long-term goal of independence from Denmark....
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*August 9, New York Post:
Billionaire-backed mining firm to seek electric vehicle metals in Greenland
COPENHAGEN – Mineral exploration company KoBold Metals, backed by billionaires including Jeff Bezos and Bill Gates, has signed an agreement with London-listed Bluejay Mining to search in Greenland for critical materials used in electric vehicles.
KoBold, which uses artificial intelligence and machine learning to hunt for raw materials, will pay $15 million in exploration funding for the Disko-Nuussuaq project on Greenland’s west coast in exchange for a 51% stake in the project, Bluejay said in a statement.
Shares in BlueJay traded 26% higher on the news.
The license holds metals such as nickel, copper, cobalt and platinum and the funding will cover evaluation and initial drilling....
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March 4
"Mining magnets: Arctic island finds green power can be a curse"
Huh, we were just looking at Greenland rare earths on Saturday: Mining fuels Greenland dreams of independence – and political crisis. The game, as they say, is afoot.
April 7
Anti-Mining Opposition Party Wins Greenland Election
China smiles.
March 2019
Cobalt: Bill Gates, Bezos, Dalio Are On the Hunt for New Underground Supply
May 2019
Bezos, Andreessen and Gates Looking For Cobalt In Canada
Not them personally, can you imagine? Tramping around northern Saskatchewan?
Jeff: Bill, does this rock look blue to you?No, it's a company they're invested in....
Bill: I can't see it, let me get my glasses.
Marc: Guys, have I told you all the things I've wanted to tweet since I quit Twitter?
Jeff and Bill: Oh Gawd
