Latest news with #JeanBoulleGroup
Yahoo
23-05-2025
- Business
- Yahoo
Greenland grants 30-year anorthosite mining licence to Greenland Anorthosite Mining
Greenland Anorthosite Mining, a Greenlandic mineral exploration company, has been granted a 30-year exploitation licence by the Government of Greenland for anorthosite mining at Piiaaffik Itersarmiut Allit, north-east of Qeqertarsuatsiaat in west Greenland. This development follows a series of investments in the project, including in the mineral resource estimate and several metallurgical studies to plan and verify the resource processing. The mining initiative has included extensive logistical planning and research to develop economic studies and impact assessments focusing on social and environmental factors. The development is backed by the collaboration between Greenlanders, the Greenland Anorthosite Mining team and investors from French investment firm the Jean Boulle Group. The investors include state investment funds from Greenland and Denmark, the Greenlandic Pension Fund SISA and the Danish SIFI (systemically important financial institution) bank Arbejdernes Landsbank. Greenland Anorthosite Mining chairman Wayne Malouf said: 'I am pleased the Ministry of Mineral Resources shares our vision of the economic and social potential that this project presents. We are proud to pave the way for responsible natural resource development in Greenland after a sustained investment in patient and diligent activities during the preceding 20 years. 'The project will generate significant benefits for the local community and support the region's economic and social development for many years by facilitating the responsible supply of raw materials to serve global customers.' Anorthosite is a grey-white rock composed mainly of aluminium, silicium and calcium. Greenland Anorthosite Mining's anorthosite resource was discovered by the Jean Boulle Group's exploration team in Fiskenæsset on Greenland's west coast. Analysis by technical mining consultancy SRK and analytics company ALS has confirmed that the material from the company's deposit is of exceptionally high quality, with notably low alkali content, making it ideal for use in E-glass. This material is crucial for the transport, construction and green energy sectors, which are experiencing significant growth. The mining and processing of anorthosite is noted for its simplicity and low energy consumption, resulting in no harmful waste. Furthermore, anorthosite facilitates the production of fibreglass and aluminium through processes that are considerably more environmentally friendly than conventional production methods, which typically utilise materials such as kaolin and bauxite. The beneficiation by-products include crushed rock, which can be used in road building or stored safely, and minor metallic by-products that are sought after for recycling. Greenland, which is considered abundant in minerals, oil and natural gas, has long been regarded as a potential resource frontier and has attracted international attention since US President Donald Trump indicated an interest in acquiring it earlier this year, reported Reuters. "Greenland grants 30-year anorthosite mining licence to Greenland Anorthosite Mining" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Russia Today
23-05-2025
- Business
- Russia Today
Greenland awards major mining contract to Danish-French firm
Greenland has granted a 30-year mining license to a Danish-French consortium seeking to extract a moon-like rock that could serve as a climate-friendly alternative in aluminum production. The permit to extract anorthosite, awarded on Wednesday to Greenland Anorthosite Mining (GAM), comes in the wake of renewed global attention on the Arctic territory. US President Donald Trump has repeatedly expressed interest in purchasing the autonomous island, which remains part of the Kingdom of Denmark. Anorthosite is a white rock primarily composed of aluminum, micro silica, and calcium. GAM intends to export crushed anorthosite for use in the fibreglass industry, positioning it as a more sustainable substitute for kaolin, the outlet said. The company is supported by the French investment firm Jean Boulle Group, along with state investment funds from both Greenland and Denmark. Announcing the deal, Greenland's Minister for Mineral Resources, Naaja Nathanielsen, said that the project's objective is to scale up operations in order to offer a climate-friendly alternative to bauxite for producing aluminum—an essential material in the manufacturing of aircraft, vehicles, and defense equipment. 'My hope is that the mine will be operational in five years,' she told Reuters. Despite the increased geopolitical attention, the minister noted that interest from the US had yet to materialize into actual investment in Greenland. Trump has been talking about making Greenland part of the US and has offered to buy the resource-rich Arctic territory from Copenhagen, but also warned that he could go as far as using force to bring it under Washington's sovereignty. Nathanielsen remarked that 'all the fuss' surrounding proposals to purchase the island had not led to a greater appetite for direct investment. While Greenland had received visits from various investors, she pointed out that there had been 'no concrete example of American funds being injected into Greenland's business community' so far. However cooperation with EU partners, she noted, is progressing.
Reuters
21-05-2025
- Business
- Reuters
Greenland gives Danish-French group permit to mine rock with green potential, in wake of Trump interest
COPENHAGEN, May 21 (Reuters) - Greenland on Wednesday handed a 30-year mining permit to a Danish-French mining group aiming to extract a moon-like rock that could offer a climate-friendly alternative in aluminium production. The Arctic island rich in minerals, oil and natural gas, and long seen as a potential resource frontier, has drawn international attention since U.S. President Donald Trump expressed an interest in purchasing it earlier this year. The permit was granted to Greenland Anorthosite Mining (GAM), which is developing a site in western Greenland. The company is backed by French investment firm the Jean Boulle Group and state investment funds in both Greenland and Denmark. Anorthosite - a white rock composed mainly of aluminum, micro silica, and calcium - is similar to the material brought back by NASA's Apollo missions. GAM plans to ship crushed anorthosite to the fibreglass industry, where it could replace kaolin as a more sustainable input. The broader ambition is to use it as an alternative to bauxite in aluminium production, a key material in reducing emissions due to its recyclability and use in lightweight vehicles. "My hope is that the mine will be operational in five years," Greenland's Mineral Resources Minister Naaja Nathanielsen told Reuters. Despite the geopolitical spotlight, Nathanielsen said the U.S.' interest in Greenland had not yet translated into tangible investment. "Right now, all the fuss has not resulted in increased appetite for investment directly in Greenland," she said, referring to Trump's proposal to buy the island. "We have welcomed a number of investors, but we have not yet seen any concrete example of American funds being injected into Greenland's business community," she said. Private U.S. business delegations have visited the island since the beginning of the year, but formal dialogue with the new U.S. administration has yet to begin, she said. However, dialogue with European partners was progressing: "There is no doubt that the dialogue with both the EU and Denmark is going smoother. This is not only the result of the noise made by the U.S. administration, but also the result of several years of intensified cooperation," Nathanielsen said. Nathanielsen was reappointed in April after a more pro-business government came to power. The island's mining sector has developed slowly, hindered by limited investor interest, bureaucratic challenges and environmental concerns. Currently, only two small mines are in operation.
