Uranium firm GMEL step closer to securing Greenland export rights

Uranium ore
Uranium ore | Courtesy of Shutterstock

Uranium mining firm Greenland Minerals and Energy Ltd. (GMEL), based in Australia, said late last week that Denmark and Greenland have reached regulatory agreements that should lead to uranium exports from Greenland.

This development is especially fortunate for GMEL, which aims to export any mineral finds from its Kvanefjeld Project site in the southern region of Greenland.

Greenland is governed under self-rule, but is considered part of the Kingdom of Denmark. Greenland initiated this arrangement in 2009 and was granted full authority over its mineral rights. To export uranium from Greenland, a partnership with Denmark is required. GMEL said the Danish government will be drafting legislation that would provide safeguards and regulatory foundation to sanction uranium exports from Greenland.

The company said this is another step for Greenland in establishing and perfecting its regulatory practices in line with international standards and other practices associated with uranium mining and export management.

Greenland’s defense and foreign relations operations are currently tied with and managed by Denmark.

GMEL said this project is expected to produce uranium oxide, zinc concentrate and fluorspar, as well as permanent magnet components praseodymium, neodymium, terbium and dysprosium. The mining-license application process is one of its major focuses for 2016, the company said.

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Greenland Minerals and Energy Ltd.

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