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GME enters partnership with Chinese NFC
One of the world leaders in rare earth processing has just signed a Memorandum of Understand with Greenland Minerals and Energy about the Kvanefjeld project. The company, China Non‐Ferrous Metal Industry’s Foreign Engineering and Construction Co. Ltd. (NFC), has an excellent reputation internationally in the engineering, construction and operation of mines and refineries.
GME is aiming to create a new rare earth supply chain that can market rare earths from Greenland to end-users globally. A partnership with NFC would help complete the chain through their rare earth separation technology and capacity.
NFC's subsidiary, Guangdong Zhujiang Rare Earths Company, holds the distinguished status as the first group to carry out full separation of fifteen rare earth elements in China, and is recognised globally as a leader in rare earth separation technology.
GME will continue to advance the Kvanefjeld project in close consultation with Greenland stakeholders. The company is aiming to finalise the development strategy and complete a mining license application.
"We see global rare earth supply becoming increasingly diversified and integrated, with clearer pricing transparency, and we believe that an alignment with a top refiner will have us well placed to establish a strong market position", says Shaun Bunn, Managing Director GME A/S. "This is a strong endorsement of both the quality of the Kvanefjeld project, and Greenland as a country in which to operate".
“The company will now put increasing focus on establishing an appropriate uranium partner for Kvanefjeld”, says Shaun Bunn.