Miner Hopes New Greenland Government Could Revive Rare Earths Project

Miner Hopes New Greenland Government Could Revive Rare Earths Project | OilPrice.com

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Breaking News:

ByCharles Kennedy– Feb 11, 2025, 9:30 AM CST

Australia-listed Energy Transition Minerals, which holds the license to mine the Kvanefjeld rare earth deposit in Greenland, hopes a new government after next month’s election could repeal legislation that has so far halted any development of one of the biggest rare earth minerals deposits outside China.

Kvanefjeld, a large-scale rare earth project with the potential to become the most significant Western world producer of critical rare earths, was put on ice earlier this decade when the Greenland government banned extraction of minerals from deposits containing uranium above certain limits.

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Energy Transition Minerals, which holds the Kvanefjeld license rights, now hopes that a March 11 election could result in a new government more willing to support the development of rare earth resources.

This comes as U.S. President Donald Trump has expressed willingness to purchase Greenland.

“I think it certainly puts everything related to minerals back on the map,” Energy Transition Minerals’ chief executive Daniel Mamadou told Reuters, commenting on President Trump’s comments and expressed aspirations about Greenland, a semi-autonomous territory of EU and NATO member state Denmark.

“The way this case is going to be solved – whether it’s in our favour or not – is going to dictate the view and the attitude of foreign investments into Greenland going forward,” Mamadou told Reuters in an interview.

Last week, the parliament of Greenland passed a bill that bans political parties from receiving donations or other contributions “from foreign or anonymous contributors” as a measure to protect “Greenland’s political integrity,” effective immediately.

The Kvanefjeld project is located in southern Greenland in an area with year-round direct shipping access, Energy Transition Minerals says, noting that more than 1 billion tons of mineral resources have been delineated in the project area, across three different zones – Kvanefjeld, Sørensen, and Zone 3.

Apart from Kvanefjeld, southern Greenland is believed to have other major mineral deposits around Kringlerne and Motzfeldt Sø.

By Charles Kennedy for Oilprice.com

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