The mining company Greenland Minerals and Energy A/S began to operate in Greenland in 2007. The company is a subsidiary of Greenland Minerals and Energy Ltd., Which is listed in Australia and has its headquarter in Perth.
The activities in Greenland are concentrated in a licensed area on Kvanefjeld by the town of Narsaq in South Greenland. Here Greenland Minerals and Energy A/S has conducted a thorough mining preparatory work with extensive test drilling and other study programs. Today it is clear that Kvanefjeld contains a huge resource of the so-called rare earth metals, and uranium and zinc.
Our mission is to discover and establish projects for mineral resources through technical and technological skills and solid business and financial management in order to generate dividends for our shareholders. We consider the minerals industry as global and Greenland meets all our criteria for mineral exploration.
Greenland has a stable political regime, and the world's largest island lies in a stable geopolitical region. Although large parts of Greenland's underground are still unexplored, there is a broad public and political recognition that mineral resources are the country's economic bases in the future.
Most of the inland of Greenland is covered by ice, but coastal areas are nicely uncovered and provide with the numerous mineral belts an excellent cross section of the diverse geology of the country.
The Danish Atomic Energy Commission examined Kvanefjeld as a potential uranium resource in the 1970s and early 1980s. Back then knowledge about uranium concentrations were acquired at the so-called "spectral logging" of cores instead of geochemical methods. This meant that the concentrations of other minerals of economic interest, remained largely unknown, and because of that it was not possible to calculate a reliable estimate of the value of the ore.
Based on extensive geological studies and body of the characteristics we know today that Kvanefjeld contains one of the world's largest deposits of rare earth metals and also uranium.
Greenland is far away from all things and is logistically challenging, many believe, but the reality is that there are many built-in advantages of Greenland's natural geography. Greenland is strategically located between the markets in North America and Europe. South Greenland is at lower latitudes than southern Alaska, Yukon and Northwest Territories in Canada - regions that are popular among mining companies and miners.
Deep fjords cut into the edges of the Greenlandic coast, which means that most land suitable for exploration is located close to potential port facilities with deep water. Greenland imports lots of oil for heating and electricity, but there are more and more hydropower plants, it will also have great significance for mining. In Greenland Minerals and Energy A/S, we have no doubt that Greenland will soon become a global hot spot for mineral exploration and mining.
All Greenland Minerals and Energy's activities in Greenland must take into account and be done in consultation with the local community. The goal is that our company should have a positive impact on the local community through employment and support for community - while maintaining an awareness of the environment and the Greenlandic way of life. Our work in Greenland is based in the town of Narsaq where we have our headquarters in Greenland and lodging for its employees, visitors and external contractors. We use as many Greenlandic services as possible and employ local workers in our programs for exploration and development work.