Greenland Minerals and Energy Ltd.

Published : January 26th, 2016

Greenland rare earth mining to remain contentious due to uranium - minister

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Greenland rare earth mining to remain contentious due to uranium - minister

TROMSOE, Norway, Jan 26 (Reuters) - Greenland's push to extract rare earth metals will remain a contentious political issue for years to come because the mining also produces uranium as a by-product, the nation's finance minister told Reuters.

Greenland has been opening up to foreign companies with hopes that its vast resources in metals and minerals, including rare earths, would help finance its ambition to become independent from former colonial master Denmark.

Greenland banned uranium mining decades ago due to its potential use in nuclear weapons but lifted it in 2013 and the government's majority in parliament supports the new policy.

The main opposition party, which narrowly missed winning a general election in November 2014, wants to re-impose the ban and is still bitter at the 2013 decision which was passed in parliament by the slimmest of majorities with barely a debate.

This uncertainty has been criticised in the past by foreign investors seeking regulatory stability on the issue.

Greenland signed a deal with Denmark last week on how it would cooperate in the mining and export of uranium found in rare earths, an agreement some investors saw as a sign the domestic conflict was over.

But Greenland's minister of finance, mineral resources and foreign affairs, Vittus Qujaukitsoq, said that was not the case.

"I don't expect it to be resolved among the parliamentary parties," he told Reuters on the sidelines of a conference held in northern Norway.

"The opposition includes two parties opposing the extraction of uranium, whether it is a by-product or not. It will be an issue for the upcoming elections."

Rare earths, a collection of over a dozen of chemical elements, are used in high-tech components and China supplies the vast majority of the world's demand.

The minister declined to give details of last week's deal with Denmark but said he "did not expect it to be a financial disadvantage for any parties", referring to the two signatories.

Greenland became a Danish colony in the early 19th century but has been gradually gaining its own powers since World War Two and is seeking to win its independence.

(Editing by David Evans)

Read the rest of the article at finance.yahoo.com
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Greenland Minerals and Energy Ltd.

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ISIN : AU000000GGG4
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Greenland Min. is a zinc and uranium exploration company based in Australia.

Greenland Min. holds various exploration projects in Greenland.

Its main exploration properties are KVANEFJELD and ZONE 2 in Greenland.

Greenland Min. is listed in Australia. Its market capitalisation is AU$ 56.3 millions as of today (US$ 40.6 millions, € 38.6 millions).

Its stock quote reached its highest recent level on February 18, 2011 at AU$ 1.37, and its lowest recent point on April 01, 2016 at AU$ 0.02.

Greenland Min. has 1 004 770 048 shares outstanding.

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Nominations of Greenland Minerals and Energy Ltd.
2/8/2011Appoints New Commercial Manager
Financials of Greenland Minerals and Energy Ltd.
2/2/2011Quarterly Report - Q4 2010
Project news of Greenland Minerals and Energy Ltd.
10/16/2013(Kvanefjeld)Progress Environmental and Social Impact Assessments on the ...
3/26/2013(Kvanefjeld)Kvanefjeld Feasibility Study Developments: Mine and Concentr...
10/17/2012(Kvanefjeld)Acquisition of the Outstanding 39% of the Kvanefjeld Multi E...
2/23/2012(Kvanefjeld): Kvanefjeld Project-Major Technical Breakthrough: Atmospher...
12/5/2011(Kvanefjeld)Government Introduces Uranium Licensing Framework for Kvanef...
8/15/2011gains full control of world's largest rare earth project
5/3/2011(Kvanefjeld)Builds First-Class Team to Facilitate the Kvanefjeld Feasibi...
3/23/2011(Kvanefjeld)Releases an Upgraded Resource Estimate for the Kvanefjeld Mu...
2/17/2011(Zone 2)Confirms a Substantial New Rare Earth Element - Uranium Depo...
2/1/2011(Kvanefjeld)Greenland Minerals Awards Contracts for Key Social and Envir...
Corporate news of Greenland Minerals and Energy Ltd.
6/9/2016Greenland and Denmark Pass Uranium Export Legislation, Solid...
2/1/2016December 2015 Quarterly Report
1/26/2016Greenland rare earth mining to remain contentious due to ura...
1/25/2016Greenland and Denmark Reach Landmark Agreement on Uranium Ex...
10/14/2015Director Appointment
4/10/2015Notice of Annual General Meeting and Explanatory Statement
4/7/2015New Memorandum of Understanding Signed With NFC to Focus on ...
4/7/2015(Kvanefjeld)New Memorandum of Understanding Signed With NFC to Focus on ...
4/1/20152014 Annual Financial report – 20 Mar 2015
4/1/2015Outstanding 2% royalty purchase – 10 Mar 2013
4/1/2015Exploration license renewal – 1 Apr 2015
3/3/2015Company Presentation, March 2015
3/2/2015Company Presentation, March 2015
3/2/2015Update on Current Activities, Outlook and Funding
2/12/2015Kvanefjeld Project – Mineral Resource Update
12/17/2014Assay of Historic Drill Cores at Kvanefjeld Return High-Grad...
12/3/2014Greenland parties in coalition talks, mining in focus
10/23/2014Feasibility Study Progress
7/9/2014Greenland Minerals and Energy Limited: Fully Underwritten $8...
10/27/2013Repeals Zero-Tolerance Uranium Policy
7/25/2013Set for Key Role in EU-Backed Rare Earth Supply Chain Initia...
10/1/2012Completes Capital Raising and Launches Share Purchase Plan
9/25/2012GGG:ASX Bell Potter Securities Initiates Research Coverage o...
9/20/2012(Kvanefjeld)Kvanefjeld Feasibility Study Underway: Metallurgical Develop...
8/6/2012(Kvanefjeld)Finalises Full Ownership of Kvanefjeld Multi-Element Project...
7/4/2012Greenland Minerals Renames Zone 2 Rare Ear
6/6/2012(Kvanefjeld)Zone 3 Grows Kvanefjeld Project Resource Inventory to 575 Ml...
5/17/2012Shaw Stockbroking increases Greenland Minerals valuation to ...
5/4/2012(Kvanefjeld)Kvanefjeld Prefeasibility Study Confirms a Long-Life, Cost C...
4/19/2012RM Research Commences Coverage on Greenland Minerals:
4/12/2012Annual Report: Greenland Minerals and Energy And Controlled ...
3/27/2012'Zone 3' Rare Earth - Uranium Deposit Shapes Up With Solid D...
3/21/2012(Zone 2)Releases Initial 242 Million Tonne Mineral Resource Estimate...
10/6/2011Independent Investment Research - Greenland Minerals and Ene...
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