Safatok niobium rare earth mine in Greenland obtained exploration license.

According to the Mining.com website, Greenland Mines)21 announced on the 21st that the Department of Commerce and Mineral Resources of Greenland has directly awarded the exploration license of Sarfartoq carbonate complex to the company.

The reply obtained according to Greenland Mineral Activities Act meets one of the key regulatory delivery conditions for the company to acquire Safatok project from Neo Performance Materials (NPM) for US$ 35 million.

As one of the trading conditions, NPM will obtain the right to take over the ore or concentrate produced by Safatok project with the output not exceeding 60%.

The company called Safatok "the fastest-growing and competitive rare earth project" in Greenland, with high grade and favorable logistics conditions.

The project is about 60 kilometers away from Kangerlussuaq in the southeast, and it is a carbonate rare earth mine rich in Pr and Nd.

According to the results of 15-year exploration and 23,000-meter drilling, the project has previously estimated the mineral resources that meet the NI 43-101 standard and made a preliminary economic evaluation.

In the past, the amount of neodymium oxide resources delineated was 27,000 tons, and the amount of praseodymium oxide was 8,000 tons. It is estimated that the ore resources are 5.88 million tons and the grade of total rare earth oxide (TREO) is 1.77%. It is estimated that the ore resources are 2.46 million tons and the TREO grade is 1.59%.

"The reply of the Greenland government is an important milestone for the company and Safatok," said Bomler Stens Gard, president of Greenland Company.

"This reflects our good relationship in Greenland and the Greenland government's confidence in our team to promote the project responsibly," said Stens Gard. "Safatok is one of the most important undeveloped neodymium and praseodymium resources in the western world. This is a fundamental step in establishing a rare earth supply chain in Greenland that truly meets Western standards. "