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GGG to be one of world's lowest cost producers of rare earth elements
Greenland Minerals and Energy Ltd's ("GMEL" or "the Company") 100% owned Kvanefjeld multi‐element project contains one of the world's largest undeveloped resources of rare earth metals and uranium (JORC‐code compliant), and is ideally located near the southern tip of Greenland.
Feasibility studies are well advanced and demonstrate Kvanefjeld's potential to be developed as a long term, low‐cost uranium supply, and a large low‐cost supplier of both heavy and light rare earth oxides (REOs). GMEL is now focussed on a staged development strategy with an initial mine‐throughput of 3Mtpa, expanding to 6Mtpa. There are two main steps in the processing of Kvanefjeld ores; a concentrator stage, and a refining stage. The Company has completed the testwork program for the concentrator stage with two successful pilot pant campaigns, and has now finalised a Mine and Concentrator Study. Key Outcomes of the Mine and Concentrator Study: The mine and concentrator (flotation circuit) will produce a high‐grade REE‐uranium mineral concentrate, along with zinc (6,180tpa) and fluorspar by‐products (8,865tpa) The REE‐uranium mineral concentrate containing 14% total REO and 0.24% U3O8 will then be treated in a dedicated refinery to produce 23,000tpa of high purity mixed rare earth hydroxide, and 1.1 Mlbs U3O8 Significantly reduced capital costs: Overall start‐up costs are now estimated at $810M The mine and concentrator capable of treating 3Mtpa is anticipated to cost $450M The refinery to produce marketable REE and U products is estimated to cost $360M Unit costs of production are low; less than US$6.40/kg TREO (after by‐product credits) which will make Kvanefjeld one of the lowest cost REE producers worldwide. Upon mine expansion from 3.0 Mtpa to 6.0 Mtpa, the unit cost of TREO production drops to less than US$4.90/kg TREO (after by‐product credits)
Disclaimer: The author of this post, may or may not be a shareholder of any of the companies mentioned in this column. No company mentioned has sponsored or paid for this content. Comments on this forum should never be taken as investment advice. |
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