Greenland Minerals Ltd
Greenland Minerals Ltd (ASX:GGG) flagship project is Kvanefjeld, a multi-element deposit located near the southwest tip of Greenland. Kvanefjeld is rapidly growing into one of the world's largest undeveloped deposits of rare earth elements, uranium and naturally occurring sodium fluoride.
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Greenland Minerals confident Kvanefjeld project can help meet long-term demand for rare earths
Greenland Minerals Ltd (ASX:GGG) is confident its Kvanefjeld project in Greenland is well-placed to take advantage of the long-term robust outlook for rare earth elements (REEs).
Despite the impacts of the COVID-19 pandemic on demand, prices for the full suite of rare earth elements have held their own during 2020 and the outlook is highly encouraging.
ADAMAS Intelligence has forecast that global annual demand for magnet rare earth oxides such as neodymium, praseodymium, dysprosium and terbium will increase by 150% through to 2030.
Upward pressure on prices
Meeting this demand will require current global production to double and when this is considered together with increasing production costs in China, the company believes there will be considerable upward pressure on prices over time.
This outlook creates an optimal development window for the Kvanefjeld Rare Earths Project given its advanced status, favourable production profile across all key magnet REEs, and competitive cost structure.
Other Greenland Minerals Ltd news
- Greenland Minerals tests boost recoveries with aim to meet looming surge in rare earth demand
2020-10-07 - Greenland Minerals higher on Kvanefjeld Environmental Impact Assessment being accepted for public consultation
2020-09-23 - Greenland Minerals closer to completing environmental review process for Kvanefjeld Rare Earth Project
2020-08-28 - Greenland Minerals high-calibre appointment signals strong outlook
2020-07-02 - Greenland Minerals progressing EIA update for Kvanefjeld Rare Earth Project
2020-04-22
