Extract from that articles which gives an indication as too the expected time-lines for the mine start-up - appears not much has changed time wise, in Rod's opinion.
"Depending on how long it takes for the licence to be issued (and given the importance of Kvanefjeld to the nation that should not take long) he hopes to start construction early in 2015 to a schedule that will allow production to start at the beginning of 2017. “We would see one or two ultimate end users for the REEs and a single recognised western uranium utility refiner as an offtake partner for the uranium.”
Kvanefjeld is the one project that will put Greenland on the map processing between three and four million tonnes of rock a year to produce 400,000 tonnes of mineral concentrate. It will, says Rod McIllree, generate more than 20 percent of Greenland’s GDP, boosting employment and downstream industries on top of the direct funds it will contribute in tax and royalties and will finally get Greenland off Denmark’s books. “The economic significance of this project cannot be overstated. When we look back years from now it is this policy event that will be seen as the spark that brought to life Greenland’s long awaited minerals industry” says McIllree, clearly conscious that Kvanefjeld is at the same time, both a company maker for GME and a foundation stone for the nation of Greenland".
www.ggg.gl
Written by John O’Hanlon, research by Richard Halfhide
GGG Price at posting:
19.5¢ Sentiment: Hold Disclosure: Held
