Upon lodgement of the mining license, a twelve month period is anticipated for processing the application as indicated by the Greenland Government.
The company is currently finalising an application for the Kvanefjeld multi-element project as well as progressing discussions with potential development partners.
Representatives of the Danish Parliament have visited the operations base in Narsaq to learn more about the Kvanefjeld project.
In addition, Greenland and Denmark expect to complete a cooperation agreement on the management of responsibilities associated with uranium exploitation this year.
The company noted that through 2014, increasing attention has been focussed on regulatory aspects of uranium production and in particular safety, security and safeguards.
Importantly, the recent developments in Greenland continue to confirm confidence in the project timeline.
This includes a uranium information tour initiated by the Greenland Government that was carried out between 16 June and 20 June to inform and educate the population on aspects of uranium mining and associated environmental considerations with a key focus on all health and safety aspects.
It is anticipated that similar information forums will be held in other towns in Greenland later in the year.
During the same time period, a 'Uranium - Best Practice' workshop was held in south Greenland, to focus on regulatory aspects of uranium mining, transport and usage.
The workshop included a tour by participants of the Kvanefjeld project area, in order to gain insight into the project geography, and to learn more about specific aspects of the development strategy.
The Greenland Government has prescribed a 12 month period for the processing of exploitation license applications, and is looking to set specific time periods for the phases involved in the overall process.
For future applications the government is looking to make publically available updates on expected and realised approval dates that will enhance confidence in project timelines.
Kvanefjeld multi-element project
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.
Notably, the unique non-refractory ore allows for the use of simple, atmospheric acid leach circuits for processing that is readily scalable with low‐technical risk.
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