"It appears increasingly unlikely that any of the large-scale mining and energy projects that Greenland has been counting on will get off the ground in the near term," Washington-based think-tank the Brookings Institution said.
China's decision to drop REE export quotas this year could spell bad news for Greenland's plans to develop mining projects. Investment in REE projects outside China has been driven by expectations of limited supply from China, where quotas have restricted production capacity and exports. But the removal of China's export quotas may reduce interest in international rare earth developments, including Greenland's two projects, Kvanefjeld and Kringlerne."
There we have it. China says NO or at least, NOT YET. They have reversed their own export limitation policy, thereby reducing the life of the Chinese resource. Ipso facto, they must have long-term designs on overseas resources, and Greenland stands out as an obvious target.
China calls the shots with REEs. There's no way around it.
IMO China is saving Greenland REEs up for a later time, and intends to control them. They will be an insurance policy for when China's deposits get closer to depletion.
I think we are 10-20 years away from Chinese development of Kvanefjeld.
23.
GGG Price at posting:
6.5¢ Sentiment: None Disclosure: Not Held
