Monday, May 25, 2015 6:05:00 PM
Kvanefjeld Feasibility Study Completed
Study Highlights
•
The Kvanefjeld resource (>1 billion tonnes, JORC-code 2012) will support an initial mine
life of 37 years and provide scope to both expand production and extend the life of the
mine significantly.
•
The Project will produce rare earth products, uranium oxide, zinc concentrate and fluorspar.
•
The total capital cost of the Project is $1,361M, comprising $1,121 M of project costs
(plant, utilities, indirect costs and contingency)
and US$240 M of associated infrastructure costs (power, port, village).
•
The cost of producing the primary product, a critical rare earth concentrate, is US$8.56/kg REO (after by-product credits) making Kvanefjeld one of the world’s lowest cost rare earth producers.
•
The Project has an after-tax net present value of US$1.4 Billion (at a discount rate of 8%)
and an internal rate of return of 21.8%
•
The forecast basket price for the Company’s critical rare earth concentrate is US$78.6/kg REO producing an operating margin of approximately US$70/kg.
•
The incremental cost of recovering the uranium from the high-grade mineral concentrate is less than US$6/lb U3O8, which will place Kvanefjeld into the bottom quartile of the cost curve for current uranium production
Greenland Minerals and Energy Positioned to Become
a Critical Rare Earth Producer of International Significance
Greenland Minerals and Energy Limited (‘GMEL’or'the Company’)is pleased to announce the completion of a Feasibility Study (the Study) into the development of the Kvanefjeld rare earth-uranium Project (the Project). The Project, located in southern Greenland, comprises several large
multi-element deposits rich in rare earth elements,uranium and zinc. Collectively, these deposits
represent one of the world’s largest identified mineral resources of rare earths and uranium.
To read the full ASX announcement go to: www.ggg.gl/docs/ASX-announcements/Kvanefjeld-Feasibility.pdf
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