Greenland Minerals and Energy (ASX:GGG) is focusing increasingly on developing the uranium business for its massive Kvanefjeld multi-element project in Greenland and has appointed James Eggins as its manager-uranium marketing and contracts.
This is a strong sign of confidence returning to the uranium market with prices forecast to rise in 2014/2015 and one or two nuclear reactors forecast to restart in Japan.
If Eggins' experience is anything to go by, then Greenland Minerals may be on a winner having worked for Queensland Mines Ltd (Nabarlek uranium project), CRA Ltd (Kintyre uranium project), WMC Resources (Olympic Dam) and most recently for Paladin Energy Ltd (Langer Heinrich, Namibia; and Kayelekera, Malawi).
His appointment will also in the move towards finalising a mining licence application for the project as well as further developing its marketing and commercial strategy.
Eggins has over 30 years of experience in the uranium industry with a focus on marketing roles, mine to market logistics and regulatory compliance.
The latter will also be important as Greenland Minerals bolsters its experience in the areas of regulatory compliance associated with uranium production.
Eggins has played a key part in both regulatory compliance and sales contract development.
Kvanefjeld multi-element project
The company's move to focus on its uranium strategy comes after the company made significant progress on its rare earth business.
It had in March signed a Memorandum of Understanding with tier‐one rare earth industry participant China Non‐Ferrous Metal Industry's Foreign Engineering and Construction Co (NYSEMKT:NFC).
This involved both parties conducting an ongoing technical exchange, and working toward structuring a business partnership that will create a complete rare earth value chain that markets products to end‐users globally.
Kvanefjeld has large resources of 575 million pounds of U3O8, 10.33 million tonnes of total rare earth oxides and 2.25 million tonnes of zinc with direct shipping access to markets in North America and Europe.
This has the potential to rival BHP Billiton's Olympic Dam project in South Australia, with sufficient Resources to sustain a mine life of more than 50 years.
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