GMEL registers 108m tonne rare earths reserve estimate

By James Sean Dickson
Published: Wednesday, 03 June 2015

Shifting Kvanefjeld’s rare earths ore from a resource to a reserve classification is another step towards proving the economic viability of GMEL’s Greenland-based deposit. The substantial hurdle of financing remains, but GMEL is hopeful that by working with its Chinese partner, NFC, it will face less of a capital raising challenge than its peers.

ASX-listed Greenland Minerals and Energy Ltd (GMEL) has announced a maiden ore reserve estimate of 108m tonnes ore for the Kvanefjeld project in southern Greenland, 64m tonnes of which is probable and 43m tonnes proven.

The ore reserves are situated in the upper part of the deposit and the estimation was...

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