Raw materials project at Moriusaq put on hold
In 2021, the company Dundas Titanium, owned by British Bluejay Mining, received an exploitation permit for ilmenite from Moriusaq. But now the project has been put to rest after a new assessment has halved the size of the resource. If the project is to survive, it needs a partner.
Bluejay Mining has now begun a process of investigating alternatives, which may include partnership, surrender of license area or a combination thereof, the management writes.Bluejay Mining
In 2020, the Greenlandic company Dundas Titanium, which is a subsidiary of British Bluejay Mining, received an exploitation permit for ilmenite from the project area at Moriusaq in North Greenland.
In 2021, Naalakkersuisut approved their exploitation and decommissioning plan, paving the way to start raising money for the construction of mines and mineral processing facilities.
Naalakkersuisoq for raw materials, Naaja H. Nathanielsen stated in this connection that "the project provided opportunities for the local community" and "marked a springboard for the mining sector".
But the spring in the springboard seems to have snapped. For now, the project has been put on hold indefinitely.
This is written by the newspaper Sermitsiaq.
This appears from a stock exchange announcement from September, where the management concludes that they cannot and will not lift the project alone.
Read the full story in this week's edition of the Sermitsiaq newspaper. Get access here:
Investigation, the latest, page-139
-
- There are more pages in this discussion • 23 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
