New Memorandum of Understanding Signed With NFC to Focus on the Development of the Kvanefjeld Project
Published : April 07, 2015
( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Australia | China | Greenland | Market | Rare Earth | Report | Uranium | Zinc |

PERTH, WESTERN AUSTRALIA--(Marketwired - April 7, 2015) - Greenland Minerals and Energy Limited ("GMEL" or "the Company") (News - Market indicators)(OTC PINK:GDLNF) is pleased to advise that, following 12 months of highly constructive cooperation, a second Memorandum of Understanding ("MoU") was signed with China Non-Ferrous Metal Industry's Foreign Engineering and Construction Co. Ltd. (NFC), during a recent visit to Beijing by Mr. Tony Ho, Chairman and Dr. John Mair, Managing Director of GMEL.

The dialogue between GMEL and NFC ("the Parties") commenced in 2013 and both companies concluded that co-operation between them represented a unique opportunity. The combination of the GMEL's potential to cost-competitively produce critical rare earth intermediate products from Kvanefjeld ("the Project") and NFC's expertise in rare earth separation and expanding separation capacity could form the basis of a globally significant rare earth business. An initial MoU was signed in March, 2014 with the objective of investigating the opportunity to establish a fully integrated rare earth supply business from mine to separated high-purity critical rare earth products.

Since signing the initial MoU there have been a number of key developments. These include:

  • Extensive exchange of technical data relating to the Kvanefjeld Project

  • Meetings between senior representatives of both parties in Perth, Beijing and Greenland

  • Visits to Perth-based laboratories where major testwork programs have taken place by senior NFC representatives and technical experts

  • Meetings in Greenland between senior NFC representatives and key Greenland government ministers and officials, as well as representatives of important stakeholder groups

Continuous engagement between the Company and NFC over the last 12 months has enabled NFC to develop a thorough understanding of the Project from a variety of perspectives that include technical, logistical and economic. During this period the Company has also been working to complete a Feasibility Study ("the Study") into the Project. The extent to which co-operation between the Company and NFC has developed is evidenced by the fact that NFC have provided the capital cost estimate that will be incorporated in the final Study report. The Study is currently undergoing internal review by GMEL prior to finalisation.

NFC is also a highly-regarded engineering, procurement and construction (EPC) contractor and has the capacity to both produce accurate capital cost estimates for construction projects and to take a key role in the engineering and construction of mine and processing facilities for Kvanefjeld.

Building on achievements to date and to map out the next steps towards developing a strategy to jointly develop the Project, the Parties have entered into a new MoU. The new MoU sets out the undertakings both parties have made to facilitate the formalisation of this strategy. The joint development strategy will be formalised in a Strategic Co-operation Agreement which the Parties have committed to work towards completing in 2015.

Under the terms of the new MoU GMEL will be responsible for finalising the exploitation license application and commencing the permitting process. In addition, GMEL will complete pilot plant operations in the coming months that will provide further confidence and rigour to the proposed process flow sheet. NFC will provide assistance to GMEL in preparing the exploitation license application, and both parties will cooperate in identifying and completing further work programs required for the Project to reach bankable status.

Managing Director of GMEL, Dr John Mair said "The signing of the new MoU reflects the culmination of 12 months of close working co-operation with NFC on many aspects of the Kvanefjeld Project. The achievements provide a solid basis to focus on the development strategy, and negotiating a strategic cooperation agreement."

About NFC

NFC is listed on the Shenzen Stock Exchange, and has been rated as one of the world's top engineering firms by the US publication Engineering News Record. NFC has a strong reputation in engineering, financing, constructing and operating mines, smelters, and refineries in many parts of the world.

NFC's participation in the rare earth industry comes through its subsidiary Guangdong Zhujiang Rare Earths Company; which holds the distinguished status as the first group to carry out full separation of fifteen rare earth elements in China, and is recognised globally as a leader in rare earth separation technology.

NFC intends to increase its involvement in the global rare earth business and has commenced construction of a new 7000tpa capacity rare earth separation facility. Upon completion, this will be one of the world's largest and most technologically advanced rare earth separation facilities.

The new facility is designed to process concentrates of a very similar composition to the critical rare earth concentrate to be produced from Kvanefjeld and the capacity of the plant closely matches Project's projected output for Stage 1.

ABOUT GREENLAND MINERALS AND ENERGY LTD.

Greenland Minerals and Energy Ltd (News - Market indicators) is an exploration and development company focused on developing high-quality mineral projects in Greenland. The Company's flagship project is the Kvanefjeld multi-element deposit (Rare Earth Elements, Uranium, Zinc), that stands to be the world's premier specialty metals project. A comprehensive pre-feasibility study was finalised in 2012, and the feasibility study will be completed in 2015. The studies demonstrate the potential for a large-scale, cost-competitive, multi-element mining operation. Through 2015, GMEL is focussed on completing a mining license application in order to commence project permitting, in parallel to advancing commercial discussions with development partners.

Greenland Minerals and Energy Ltd will continue to advance the Kvanefjeld project in a manner that is in accord with both Greenlandic Government and local community expectations, and looks forward to being part of continued stakeholder discussions on the social and economic benefits associated with the development of the Kvanefjeld Project.

(ABN 85 118 463 004)

Data and Statistics for these countries : Australia | China | Greenland | All
Gold and Silver Prices for these countries : Australia | China | Greenland | All

Greenland Minerals and Energy Ltd.

EXPLORATION STAGE
CODE : GGG.AX
ISIN : AU000000GGG4
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

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$ 68.3 millions as of today (US$ 49.3 millions, € 43.2 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.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
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 ...
4/1/2015Exploration license renewal – 1 Apr 2015
4/1/20152014 Annual Financial report – 20 Mar 2015
4/1/2015Outstanding 2% royalty purchase – 10 Mar 2013
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...
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
AUSTRALIA (GGG.AX)
0.068+0.00%
AUSTRALIA
AU$ 0.068
08/18 15:45 -
0%
Prev close Open
0.068 0.068
Low High
0.068 0.068
Year l/h YTD var.
0.045 -  0.088 -18.07%
52 week l/h 52 week var.
0.045 -  0.150 -47.69%
Volume 1 month var.
91,263 23.64%
24hGold TrendPower© : 34
Produces
Develops
Explores for Uranium - Zinc
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 1/16/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
2022-35.24%
2021-60.38%0.320.07
2020103.85%0.350.07
2019116.67%0.170.05
2018-40.00%0.110.06
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.07+2.32%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.26-1.31%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 3.18-4.79%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.58+0.34%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.14+45.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.70+0.37%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 7.06-5.61%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.26+2.00%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.38+15.15%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.86-8.82%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 64.14+0.88%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.03-8.33%Trend Power :