Greenland Minerals Announce Positive Prefeasibility Study Results for Kvanefjeld

Greenland Minerals and Energy Ltd. (ASX:GGG) announced that the prefeasibility study for Kvanefjeld confirmed that it is a long life, cost competitive rare earth element-uranium project.

As quoted in the press release:

Key Study Outcomes Include:
• The Prefeasibility Study outlines an initial development scenario with an annual mine throughput of 7.2 Mt, to generate four main products as well as a high-grade zinc sulfide concentrate:
– Uranium Oxide – 2.6 Mlbs pa U3O8
– Heavy Rare Earth Hydroxide – 4,200 tpa TREO
– Mixed Rare Earth Carbonate – 10,400 tpa TREO
– Light Rare Earth Carbonate – 26,200 tpa TREO
• Unit costs of production are low; less than US$31/lb U3O8 and less than US$8/kg TREO (as contained in the three combined rare earth products). This places the Kvanefjeld Project into the bottom half of the cost curve for uranium producers and it will be one of the lowest cost REE producers worldwide.
• The Kvanefjeld Project generates a pre-tax, ungeared internal rate of return of 32% and a cash payback period less than 4 years, based on long-term prices of US$70/lb U3O8 and US$41.60/kg TREO. The pre-tax NPV is US$4,631 M (at 10% discount rate).

Click here to read the Greenland Minerals and Energy (ASX:GGG) press release