John Mair from Greenland Minerals and Energy has told Chinese news site DZH News (大智慧) that a feasibility study for the Kvanefjeld rare earth project is almost done, and that trial production might start once an environmental study is ready later this year.
China Nonferrous (CNMC, 中色), a national state-owned integrated miner, is involved in GMEL’s Kvanefjeld project through its largest listed subsidiary, Shenzhen-listed NFC (中色股份). This involvement officially began with a non-binding MoU between NFC and GMEL signed one year ago (‘China Nonferrous enters Greenland rare-earth game‘). That cooperation seems to be progressing towards more concrete form as, according to a recent GMEL announcement, multiple meetings between the two companies have been taking place during the past year, both at management and technical levels.
However ‘non-binding’ it might be at the moment, cooperation between China Nonferrous and the Kvanefjeld operator is an MoU made in Heaven. The Kvanefjeld mine is expected to produce output fitting the needs of China Nonferrous’ colossal REE separation plant under construction in Xinfeng 新丰 county in Guangdong, and rather cheaply at that.
GMEL has also announced they’ve secured up to $20m from Long State (远邦投资), a HK-based resource investment company with Mainland connections I might (or might not) have occasion to talk about in some future post. They also say they’re looking forward to getting more financing during this year.
Other than in Kvanefjeld, Nonfezza are also involved in Ironbark’s zinc project in Citronenfjord at the other end of Greenland.