Proposed Rare Earth Mine In Greenland Claims 'Lowest Capital Intensity'
Greenland Minerals said its new feasibility study brought down the costs of its Kvanefjeld project by about 40% to $505 million.
"The updated capital cost of US$505M is transformational for the project which now has the lowest capital intensity of emerging ASX‐listed rare earth projects," the company said in a statement released today.
Greenland Minerals said it reduced previous capital cost estimates "...through substantial reductions in civil earth works for site preparation, updated port design by specialist groups, and greater use of local materials."
The company estimates an initial 37‐year mine life based on 108Mt ore reserve estimate.Greenland Minerals said its Kvanefjeld project is the largest code‐compliant (JORC or CIM) rare earth resou