TORONTO--(BUSINESS WIRE)--Greenland Resources Inc. (NEO:MOLY, FSE:2LF) ("Greenland Resources" or "Company") is pleased to announce that it will be held in Greenland on November 17 A meeting was held in Nuuk, which was held in 2021 by Dr. Ruben Schiffman, Chairman of the Ministry of Resources of Greenland, Mr. Jørgen Hammenken-Holm, Deputy Minister of Mineral Resources, and Ms. Naaja Nathanielsen, Minister of Housing, Infrastructure, Minerals, Justice and Gender Equality of Greenland Talks.
During the meeting, the company provided the latest information about the Malmbjerg molybdenum project. Ms. Nathanielsen reiterated the government's support and importance of the Malmbjerg molybdenum project in the development of East Greenland, and continued implementation of the Greenland government's commitment to the 2020-2024 mining strategy. Dr. Shiffman explained the management's successful record on previous mining projects, emphasized the social responsibility of stakeholders, and discussed the next steps to move the Malmbjerg molybdenum project to production.
Minister of Housing, Infrastructure, Minerals, Justice and Gender Equality Naaja H. Nathanielsen commented: "The development of a strong mining industry that is environmentally and socially responsible will promote the diversification of the Greenland economy and benefit the entire population of Greenland. Malmbjerg in East Greenland The molybdenum project has the potential to make positive economic and social contributions to Greenland, the European Green Agreement and the European Raw Materials Alliance."
Greenland Resources Chairman Dr. Schiffman said: "We thank the Minister and her team for their continued support. Working with such a talented team is a very positive experience. As an associate member of the European Union, and through its mineral resources Part of the Ministry’s European Raw Materials Alliance network, Greenland has an enviable advantage to supply key minerals to the European Green Agreement from a long-term responsible source. The world-class Malmbjerg molybdenum project will become an important part of Greenland and will support it Development on the East Coast. Molybdenum is a key element of all green energy technologies; the EU is the world’s second largest user of molybdenum, but there is no production."
Mr. Jim Steel, P.Geo., MBA, qualified personnel under National Instruments 43-101 has reviewed and approved the technical information in this press release.
Greenland Resources is the report issuer in Canada, and the Ontario Securities Commission is its main regulatory agency, focusing on the development of its 100% owned world-class Climax-type pure molybdenum deposit in central and eastern Greenland. The Malmbjerg molybdenum deposit has 281 million tons of 0.18% molybdenum disulfide-containing restricted measurement and indication resources, and 661 million pounds of molybdenum metal (Tetra Tech, 2021). The Malmbjerg molybdenum project benefited from the 2008 feasibility study completed by Wardrop (now Tetra Tech), environmental and social impact assessment (SRK, 2007), engineering optimization concept study (DRA, 2019), and obtained the previous The mining license. The company has an office in Toronto and is led by a management team with extensive track records in the mining industry and capital markets. For more detailed information, please refer to our website (www.greenlandresources.ca) and our Canadian regulatory document on Greenland Resources' profile on www.sedar.com
About molybdenum and the EU
Molybdenum is a metal mainly used in steel and chemicals. In the upcoming green energy transition, all technologies require molybdenum (World Bank, 2020; International Energy Agency, 2021). When added to steel and cast iron, it can improve strength, hardenability, weldability, toughness, temperature strength and corrosion resistance. According to data from the International Molybdenum Association and the European Commission's Steel Report, about 546 million pounds of molybdenum were produced globally in 2020, of which the European Union ("EU"), the world's second largest steel producer, uses about 25% of the world's molybdenum. Molybdenum supply, no molybdenum production in China. To a greater extent, the European Union's steel-dependent industries, such as automobiles, construction and engineering, account for about 18% of the EU's roughly $16 trillion GDP. The Greenland Resources Company Malmbjerg Molybdenum Project has the potential to supply approximately 25 million pounds of environmentally friendly molybdenum from a responsible EU associate member state to the EU every year in the next few decades.
Warning statement: This press release contains certain "forward-looking statements" that do not contain historical facts. Forward-looking statements include estimates and statements that describe the company's future plans, goals, or objectives, including words that the company or management expects the occurrence of specified conditions or results. Forward-looking statements can be identified by terms such as "believe", "anticipate", "anticipate", "estimate", "may", "may", "will", "will" or "plan" and other terms, including, but not Limited to statements regarding the following: future opportunities, future operating and capital costs, timetables, permitting timetables, and the ability to obtain permits required for the Malmbjerg molybdenum deposit, economics and related returns, the technical feasibility of Malmbjerg molybdenum deposits, and the molybdenum market , Future prices and demand, the environmental impact of the Malmbjerg molybdenum deposit, and the continued ability to cooperate with stakeholders (including local governments). Because forward-looking statements are based on assumptions and address future events and conditions, by their nature, they involve inherent risks and uncertainties. Although these statements are based on information currently available to the company, the company does not guarantee that actual results will meet management expectations. The risks, uncertainties and other factors involved in forward-looking information may cause actual events, results, performance, prospects and opportunities to be materially different from those expressed or implied by such forward-looking information. The forward-looking information in this press release includes, but is not limited to, the company's goals, objectives or future plans, statements, exploration results, potential mineralization, estimates of mineral resources, exploration and mine development plans, estimates of the time of commencement of operations and market conditions. Factors that may cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to identify mineral resources, failure to convert estimated mineral resources into reserves, failure to complete the feasibility study of recommended production decisions, and metallurgical test results. Preliminary nature, delay in obtaining or failing to obtain the required government, environmental or other project approvals, political risks, uncertainties related to the availability and cost of future financing required, changes in the stock market, inflation, exchange rates, commodities Price fluctuations, project development delays, capital and operating costs are very different from estimated values, and other risks involved in the mineral exploration and development industry, predicting and offsetting the COVID-19 pandemic will affect the company’s business, including but not limited to n COVID-19 Capital markets, commodity prices, supply chain disruptions, labor and workplace attendance restrictions, and the impact of local and international travel, as well as the risks listed in the company's public documents submitted on SEDAR. Although the company believes that the assumptions and factors used in the preparation of the forward-looking information in this press release are reasonable, it should not rely excessively on such information. The information is only applicable to the date of this press release and cannot be guaranteed in light of such events. Will happen within the public time frame or not at all. Except as required by law, the company does not undertake any intention or obligation to update or revise any forward-looking information, whether due to new information, future events or other reasons.
Ruben Shiffman, PhD Chairman and President Keith Minty, P. Eng, MBA Engineering and Project Management Jim Steel, P. Geo, MBA Exploration and Mining Geology Nauja Bianco, M. Pol. Sci. Public and Community Relations Gary Anstey Investor Relations Corporate Office Suite 1410, 181 University Av. M5H 3M7, Toronto, Ontario, Canada Phone 1 647 273 9913 Email info@greenlandresourcesinc.com Website www.greenlandresources.ca
Ruben Shiffman, PhD Chairman and President Keith Minty, P. Eng, MBA Engineering and Project Management Jim Steel, P. Geo, MBA Exploration and Mining Geology Nauja Bianco, M. Pol. Sci. Public and Community Relations Gary Anstey Investor Relations Corporate Office Suite 1410, 181 University Av. M5H 3M7, Toronto, Ontario, Canada Phone 1 647 273 9913 Email info@greenlandresourcesinc.com Website www.greenlandresources.ca