Greenland Resources Applies for Exploitation License Under New Mining Act Greenland Resources Inc. (Cboe CA: MOLY | FSE: M0LY) is excited to announce its application for an exploitation license under Greenland’s new Mining Act, effective January 1, 2024. This act replaces the previous Mineral Resources Act and streamlines the licensing process, facilitating faster project development.
The company views the Mining Act favorably, expecting it to expedite capital financing, permitting, and project advancement. Notably, amendments to Environmental Impact Assessment (EIA) and Social Impact Assessment (SIA) requirements allow for post-license fulfillment.
Greenland Resources possesses a viable mineral deposit, validated by the Malmbjerg NI 43-101 Definitive Feasibility Study by Tetra Tech, and approved Terms of Reference for EIA/SIA. Consequently, the company is eligible and has applied for the exploitation license.
Dr. Ruben Shiffman, Executive Chairman, commented on the timely permitting route, coinciding with advanced capex proceedings and recent milestones in the Greenland mining sector.
The Malmbjerg molybdenum project, owned entirely by Greenland Resources, boasts environmentally friendly design and significant reserves. It is supported by a proven track record and strategic partnerships.
For further information, visit Greenland Resources’ website and regulatory filings. The project is endorsed by the European Raw Materials Alliance (ERMA), a key player in the European Union’s raw materials strategy.
