Australian rare earth company Greenland Minerals is trying to raise AU$7 million for its Kvanefjeld project in Greenland.
The Kvanefjeld Project is underpinned by a JORC-code compliant resource of >1 billion tonnes, and an ore reserve estimate of 108 million tonnes to sustain an initial 37-year mine life. It is projected to be one of the largest global producers of key magnet metals including neodymium, praseodymium, dysprosium and terbium. Kvanefjeld offers a new, simpler path to rare earth production than traditional refractory sources, according to the company.
Kvanefjeld is centred on the globally unique Ilimaussaq Alkaline Complex in southern Greenland. Mineralisation is hosted by a rock-type called lujavrite, and is enriched in rare earths, uranium, and zinc.