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National Post
a day ago
- Business
- National Post
Greenland Resources Receives 30-Year Exploitation License for Molybdenum and Magnesium
Article content NUUK, Greenland — Greenland Resources Inc. (Cboe CA: MOLY | FSE: M0LY) and its fully owned Greenlandic subsidiary Greenland Resources A/S ('Greenland Resources' or the 'Company') is pleased to announce that today the Greenland's Minister for Business, Mineral Resources, Energy, Justice and Gender Equality, Naaja H. Nathanielsen, together with Dr. Ruben Shiffman, Chairman of the Board of Directors of Greenland Resources, signed a 30-year exploitation permit for molybdenum and magnesium for the Company's Malmbjerg project in east Greenland (now defined as the Piiaaffik Høstakken). The Company can apply to extend the licence period up to 50-years. Article content Naalakkersuisut's Minister for Business, Mineral Resources, Energy, Justice and Gender Equality, Naaja H. Nathanielsen, stated at the handover ceremony: 'It is with great satisfaction that the Greenland Government can grant another exploitation permit to a mineral resources company. The progress we are experiencing in the mineral resources sector is good news for all of us. The mineral resources projects contribute to the Greenland Government's goal of a self-sustaining economy and local communities are served through job creation, tasks for the local business community and through the so-called IBA, which is a one-party agreement between the company, the municipality and the self-government that focuses on the local community. The exploitation permit to Greenland Resources comes shortly after they have entered into a 10-year offtake agreement with some of the largest steel companies in Europe. It is a sign of confidence in our mining industry in general, but also in Greenland Resources and their project. I look forward to continuing the collaboration with Greenland Resources A/S, and I wish us all congratulations and good work ethic.' Naalakkersuisut's Minister for Social Affairs, Labour Market, Internal Affairs and Environment, Bentiaraq Ottesen, stated: 'With the granting of the exploitation permit, Greenland Resources is taking an important step towards the development of their project. For Naalakkersuisut, it is important that mineral projects are carried out with respect and understanding for our nature and with a focus on both our environment and society. This requires openness, professionalism and a close dialogue with, and involvement of, the local communities. We know that mineral projects can influence the surroundings, and therefore mining projects must be carried out responsibly and with clear environmental frameworks. At the same time, in Naalakkersuisut we view it as positive that the project has the potential to create local jobs and contribute to economic development.' Executive Chairman of the Board of Greenland Resources A/S, Dr. Ruben Shiffman, stated at the signing ceremony: 'We sincerely thank the government of Greenland. Our team has a good track record from previous mining projects on sustainable mining and providing wealth and prosperity to communities. Malmbjerg has the potential to generate close to US$1 billion in taxes during the 20-year life of the mine (according to our NI 43-101 Feasibility Study), can create critical infrastructure on the east coast, and provide people with new life skills. The project comes at a time of deglobalization and significant growth in defence expenditures. It will be able to supply around 25% of all EU molybdenum needs and 100% of defence applications (more than 80% of the metallic materials for defence require molybdenum). The EU is the second largest worldwide user of molybdenum, has large processing capacity and the best specialty steel products, but has no molybdenum extraction. Only one country currently supplies the EU with primary molybdenum, ideal for high performance steel and defence, and with magnesium vital for electric vehicle production. Malmbjerg will change this.' The Company will continue working on the remaining requirements that can be fulfilled subsequent to the grant of the exploitation license. Mining activities must commence no later than December 31, 2028, unless otherwise approved. The Company expects to provide a positive update soon on the debt and equity part of the capex financing strategy, including strategic investors. The Company's strategy focuses on servicing mainly the European Union ('EU') market. Article content Article content About Molybdenum and the EU Article content The EU is the second largest molybdenum user worldwide, (around 122 million pounds of molybdenum per year, 19% of the global demand according to IMOA), has large processing capacity, produces the best specialty steel products worldwide but has no molybdenum extraction. Green energy technologies, steel and defence are the key drivers for market growth. When molybdenum is added to steel and cast iron, it enhances strength, hardenability, weldability, toughness, temperature strength, and corrosion resistance. To a greater degree, the EU steel dependent industries like automotive, construction, and engineering, represent around 18% of EU GDP. Greenland Resources strategically located Malmbjerg project has the potential to supply in and for the EU approximately 25% of the EU demand of environmentally friendly high-quality primary molybdenum from a responsible EU Associate country for decades to come, as well as 100% of EU defence molybdenum consumption. More than 80% of the metallic materials (including carbon and stainless steels) to be used for defence applications require molybdenum alloying. The primary molybdenum in the Malmbjerg project is ideal for EU defence and high-performance steel applications because of low deleterious elements and long-term security supply. The EU expects to increase defense expenditures from current 1.5% to around 4% of GDP. Primary molybdenum is only produced in China (87%) and the USA (13%), China imposed export controls on molybdenum and is now a net importer. Molybdenum is categorized as a critical and/or strategic mineral across the top five defence nations in the world: U.S., China, Russia, India, and South Korea. Article content About Magnesium and the EU Article content The EU uses around 145,000 tones of magnesium per year (15% of the global demand) but has no treatment facilities nor extraction. Electric vehicle production and sustainable manufacturing practices are key drivers for market growth. Magnesium is a light metal with a high strength-to-weight ratio, primarily utilized in the form of magnesium metal or magnesium compounds such as caustic-calcined magnesia, magnesium chloride, hydroxide and sulfates. Magnesium metal is primarily used as casting alloy in automotive and aerospace industries (64%), aluminum-base alloys for packaging and transportation (18%), and in the desulfurization of iron and steel (4%). Smelter production of magnesium metal in 2024 was 1 million metric tonnes, 85% coming from seawater, while smelter capacity worldwide is double. Also, approximately 75% of magnesium compounds serve industrial purposes including fertilizers, cattle feed, Epsom salts, heat-resistant bricks, de-icing etc. (USGS 2024). China produces 89% of the world magnesium and Europe sources 97% of its magnesium from China (EC, 2023). Article content Qualified Person Statement Article content The news release has been reviewed and approved by Mr. Jim Steel, M.B.A. a Qualified Person as defined by Canadian Securities Administrators National Instrument 43-101 'Standards of Disclosure for Mineral Projects'. Article content Greenland Resources Inc. Article content Greenland Resources is a Canadian public company with the Ontario Securities Commission as its principal regulator and is focused on the development of its 100% owned Climax type primary molybdenum deposit located in central east Greenland. The Project has also magnesium as a byproduct, a market dominated 89% by China. The Malmbjerg project is an open pit operation with an environmentally friendly mine design focused on reduced water usage, low aquatic disturbance and low footprint due to modularized infrastructure. The Malmbjerg project benefits from an NI 43-101 Definitive Feasibility Study completed by Tetra Tech in 2022, with an US$820 million capex and a levered after-tax IRR of 33.8% and payback of 2.4 years, using US$18 per pound molybdenum price. The Proven and Probable Reserves are 245 million tonnes at 0.176% MoS 2, for 571 million pounds of contained molybdenum metal. As the high-grade molybdenum is mined for the first half of the mine life, the average annual production for years one to ten is 32.8 million pounds per year of contained molybdenum metal at an average grade of 0.23% MoS 2, approximately 25% of EU total yearly consumption and 100% of EU defence needs. On byproduct magnesium, the project uses approximately 35,000 m 3 per day of saline water with around 900 ppm of magnesium and the Company is working on extracting magnesium from the saline water using innovative technologies. In addition, the molybdenum concentrate has a magnesium component. The Company is aiming to incorporate magnesium in the economics of the feasibility study. On June 19, 2025, The Company was awarded an exploitation license for molybdenum and magnesium. With offices in Toronto, the Company is led by a management team with an extensive track record in the mining industry and capital markets. For further details, please refer to our web site ( and our Canadian regulatory filings on Greenland Resources' profile at The Project is supported by the European Raw Materials Alliance (ERMA). ERMA is managed by EIT RawMaterials, an organization within the EIT, a body of the European Union. Article content Forward Looking Statements Article content This news release contains 'forward-looking information' (also referred to as 'forward looking statements'), which relate to future events or future performance and reflect management's current expectations and assumptions. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'hopes', 'expects', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes' or variations (including negative variations) of such words and phrases, or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: the award of the exploitation permit for molybdenum and magnesium for the Malmbjerg project and expected benefits to be received therefrom; mine permit matters; the Company's completion of remaining conditions of the exploitation permit; expected and estimate production from the Malmbjerg project and the extent to which such production may be able to meet the demand of the European Union; the impact of the exploitation permit and the Malmbjerg project on the population and broader economy and society of Greenland; taxes expect to result from the Malmbjerg project; expected uses of and demand for molybdenum and magnesium, in general and in particular regarding such minerals produced from the Malmbjerg project; expected future updates or disclosures from the Company regarding any of the foregoing; and the Company's objectives, goals or future plans. Article content These forward-looking statements and information reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: future planned development and other activities on the Project; satisfactory completion of the Environmental Impact Assessment (EIA); successful completion of public consultation for the Social Sustainability Assessment (SIA); the ability to finance the Company including successfully concluding off-take arrangements, banking facilities and strategic investment; successful completion of the mining and closure plans and obtaining the permitting on the Project in a timely manner; no adverse changes to the planned operations of the Project; continued favourable relationships with local communities; current EU and other initiatives remaining in place into the future; expected demand for molybdenum and magnesium in the EU and abroad, including by companies that expressed an interest in purchasing molybdenum and magnesium; our mineral reserve estimates including magnesium and the assumptions upon which they are based, including geotechnical and metallurgical characteristics of rock confirming to sampled results and metallurgical performance; tonnage of ore to be mined and processed; ore grades and recoveries; assumptions and discount rates being appropriately applied to the technical studies; estimated valuation and probability of success of the Company's projects, including the Malmbjerg molybdenum project; prices for molybdenum and magnesium remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company's projects; capital decommissioning and reclamation estimates; mineral reserve and resource estimates and the assumptions upon which they are based; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner or at all; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive. Article content The Company cautions the reader that forward-looking statements and information include known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: favourable local community support for the Project's development; the projected demand for molybdenum and magnesium both in the EU and elsewhere, including by companies that expressed an interest in purchasing molybdenum and magnesium; the current initiatives and programs for resource development in the EU and abroad; the projected and actual status of supply chains, labour market, currency and commodity prices interest rates and inflation; the projected and actual status of the global and Canadian capital markets, fluctuations in molybdenum, magnesium and commodity prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar versus the Euro); operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structure formations, cave-ins, flooding and severe weather); inadequate insurance, or the inability to obtain insurance, to cover these risks and hazards; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices in Greenland, including environmental, export and import laws and regulations; legal restrictions relating to mining; risks relating to expropriation; increased competition in the mining industry for equipment and qualified personnel; the availability of additional capital; title matters and the additional risks identified in our filings with Canadian securities regulators on SEDAR+ in Canada (available at Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described, or intended. Investors are cautioned against undue reliance on forward-looking statements or information. These forward-looking statements are made as of the date hereof and, except as required by applicable securities regulations, the Company does not intend, and does not assume any obligation, to update the forward-looking information. Neither the Cboe Canada Exchange nor its regulation services provider accepts responsibility for the adequacy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Article content Article content Article content Article content Article content Contacts Article content For further information please contact: Article content Ruben Shiffman, PhD Chairman, President Article content Keith Minty, MBA Engineering and Project Management Article content Jim Steel, MBA Exploration and Mining Geology Article content Nauja Bianco, Public and Community Relations Article content Gary Anstey Investor Relations Article content Eric Grossman, CPA, CGA Chief Financial Officer
Associated Press
a day ago
- Business
- Associated Press
Greenland Resources Receives 30-Year Exploitation License for Molybdenum and Magnesium
NUUK, Greenland--(BUSINESS WIRE)--Jun 19, 2025-- Greenland Resources Inc. (Cboe CA: MOLY | FSE: M0LY) and its fully owned Greenlandic subsidiary Greenland Resources A/S ('Greenland Resources' or the 'Company') is pleased to announce that today the Greenland's Minister for Business, Mineral Resources, Energy, Justice and Gender Equality, Naaja H. Nathanielsen, together with Dr. Ruben Shiffman, Chairman of the Board of Directors of Greenland Resources, signed a 30-year exploitation permit for molybdenum and magnesium for the Company's Malmbjerg project in east Greenland (now defined as the Piiaaffik Høstakken). The Company can apply to extend the licence period up to 50-years. This press release features multimedia. View the full release here: Naalakkersuisut's Minister for Business, Mineral Resources, Energy, Justice and Gender Equality, Naaja H. Nathanielsen, stated at the handover ceremony: 'It is with great satisfaction that the Greenland Government can grant another exploitation permit to a mineral resources company. The progress we are experiencing in the mineral resources sector is good news for all of us. The mineral resources projects contribute to the Greenland Government's goal of a self-sustaining economy and local communities are served through job creation, tasks for the local business community and through the so-called IBA, which is a one-party agreement between the company, the municipality and the self-government that focuses on the local community. The exploitation permit to Greenland Resources comes shortly after they have entered into a 10-year offtake agreement with some of the largest steel companies in Europe. It is a sign of confidence in our mining industry in general, but also in Greenland Resources and their project. I look forward to continuing the collaboration with Greenland Resources A/S, and I wish us all congratulations and good work ethic.' Naalakkersuisut's Minister for Social Affairs, Labour Market, Internal Affairs and Environment, Bentiaraq Ottesen, stated: 'With the granting of the exploitation permit, Greenland Resources is taking an important step towards the development of their project. For Naalakkersuisut, it is important that mineral projects are carried out with respect and understanding for our nature and with a focus on both our environment and society. This requires openness, professionalism and a close dialogue with, and involvement of, the local communities. We know that mineral projects can influence the surroundings, and therefore mining projects must be carried out responsibly and with clear environmental frameworks. At the same time, in Naalakkersuisut we view it as positive that the project has the potential to create local jobs and contribute to economic development.' Executive Chairman of the Board of Greenland Resources A/S, Dr. Ruben Shiffman, stated at the signing ceremony: 'We sincerely thank the government of Greenland. Our team has a good track record from previous mining projects on sustainable mining and providing wealth and prosperity to communities. Malmbjerg has the potential to generate close to US$1 billion in taxes during the 20-year life of the mine (according to our NI 43-101 Feasibility Study), can create critical infrastructure on the east coast, and provide people with new life skills. The project comes at a time of deglobalization and significant growth in defence expenditures. It will be able to supply around 25% of all EU molybdenum needs and 100% of defence applications (more than 80% of the metallic materials for defence require molybdenum). The EU is the second largest worldwide user of molybdenum, has large processing capacity and the best specialty steel products, but has no molybdenum extraction. Only one country currently supplies the EU with primary molybdenum, ideal for high performance steel and defence, and with magnesium vital for electric vehicle production. Malmbjerg will change this.' The Company will continue working on the remaining requirements that can be fulfilled subsequent to the grant of the exploitation license. Mining activities must commence no later than December 31, 2028, unless otherwise approved. The Company expects to provide a positive update soon on the debt and equity part of the capex financing strategy, including strategic investors. The Company's strategy focuses on servicing mainly the European Union ('EU') market. About Molybdenum and the EU The EU is the second largest molybdenum user worldwide, (around 122 million pounds of molybdenum per year, 19% of the global demand according to IMOA), has large processing capacity, produces the best specialty steel products worldwide but has no molybdenum extraction. Green energy technologies, steel and defence are the key drivers for market growth. When molybdenum is added to steel and cast iron, it enhances strength, hardenability, weldability, toughness, temperature strength, and corrosion resistance. To a greater degree, the EU steel dependent industries like automotive, construction, and engineering, represent around 18% of EU GDP. Greenland Resources strategically located Malmbjerg project has the potential to supply in and for the EU approximately 25% of the EU demand of environmentally friendly high-quality primary molybdenum from a responsible EU Associate country for decades to come, as well as 100% of EU defence molybdenum consumption. More than 80% of the metallic materials (including carbon and stainless steels) to be used for defence applications require molybdenum alloying. The primary molybdenum in the Malmbjerg project is ideal for EU defence and high-performance steel applications because of low deleterious elements and long-term security supply. The EU expects to increase defense expenditures from current 1.5% to around 4% of GDP. Primary molybdenum is only produced in China (87%) and the USA (13%), China imposed export controls on molybdenum and is now a net importer. Molybdenum is categorized as a critical and/or strategic mineral across the top five defence nations in the world: U.S., China, Russia, India, and South Korea. About Magnesium and the EU The EU uses around 145,000 tones of magnesium per year (15% of the global demand) but has no treatment facilities nor extraction. Electric vehicle production and sustainable manufacturing practices are key drivers for market growth. Magnesium is a light metal with a high strength-to-weight ratio, primarily utilized in the form of magnesium metal or magnesium compounds such as caustic-calcined magnesia, magnesium chloride, hydroxide and sulfates. Magnesium metal is primarily used as casting alloy in automotive and aerospace industries (64%), aluminum-base alloys for packaging and transportation (18%), and in the desulfurization of iron and steel (4%). Smelter production of magnesium metal in 2024 was 1 million metric tonnes, 85% coming from seawater, while smelter capacity worldwide is double. Also, approximately 75% of magnesium compounds serve industrial purposes including fertilizers, cattle feed, Epsom salts, heat-resistant bricks, de-icing etc. (USGS 2024). China produces 89% of the world magnesium and Europe sources 97% of its magnesium from China (EC, 2023). Qualified Person Statement The news release has been reviewed and approved by Mr. Jim Steel, M.B.A. a Qualified Person as defined by Canadian Securities Administrators National Instrument 43-101 'Standards of Disclosure for Mineral Projects'. Greenland Resources Inc. Greenland Resources is a Canadian public company with the Ontario Securities Commission as its principal regulator and is focused on the development of its 100% owned Climax type primary molybdenum deposit located in central east Greenland. The Project has also magnesium as a byproduct, a market dominated 89% by China. The Malmbjerg project is an open pit operation with an environmentally friendly mine design focused on reduced water usage, low aquatic disturbance and low footprint due to modularized infrastructure. The Malmbjerg project benefits from an NI 43-101 Definitive Feasibility Study completed by Tetra Tech in 2022, with an US$820 million capex and a levered after-tax IRR of 33.8% and payback of 2.4 years, using US$18 per pound molybdenum price. The Proven and Probable Reserves are 245 million tonnes at 0.176% MoS 2, for 571 million pounds of contained molybdenum metal. As the high-grade molybdenum is mined for the first half of the mine life, the average annual production for years one to ten is 32.8 million pounds per year of contained molybdenum metal at an average grade of 0.23% MoS 2, approximately 25% of EU total yearly consumption and 100% of EU defence needs. On byproduct magnesium, the project uses approximately 35,000 m 3 per day of saline water with around 900 ppm of magnesium and the Company is working on extracting magnesium from the saline water using innovative technologies. In addition, the molybdenum concentrate has a magnesium component. The Company is aiming to incorporate magnesium in the economics of the feasibility study. On June 19, 2025, The Company was awarded an exploitation license for molybdenum and magnesium. With offices in Toronto, the Company is led by a management team with an extensive track record in the mining industry and capital markets. For further details, please refer to our web site ( ) and our Canadian regulatory filings on Greenland Resources' profile at The Project is supported by the European Raw Materials Alliance (ERMA). ERMA is managed by EIT RawMaterials, an organization within the EIT, a body of the European Union. Forward Looking Statements This news release contains 'forward-looking information' (also referred to as 'forward looking statements'), which relate to future events or future performance and reflect management's current expectations and assumptions. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'hopes', 'expects', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes' or variations (including negative variations) of such words and phrases, or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: the award of the exploitation permit for molybdenum and magnesium for the Malmbjerg project and expected benefits to be received therefrom; mine permit matters; the Company's completion of remaining conditions of the exploitation permit; expected and estimate production from the Malmbjerg project and the extent to which such production may be able to meet the demand of the European Union; the impact of the exploitation permit and the Malmbjerg project on the population and broader economy and society of Greenland; taxes expect to result from the Malmbjerg project; expected uses of and demand for molybdenum and magnesium, in general and in particular regarding such minerals produced from the Malmbjerg project; expected future updates or disclosures from the Company regarding any of the foregoing; and the Company's objectives, goals or future plans. These forward-looking statements and information reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: future planned development and other activities on the Project; satisfactory completion of the Environmental Impact Assessment (EIA); successful completion of public consultation for the Social Sustainability Assessment (SIA); the ability to finance the Company including successfully concluding off-take arrangements, banking facilities and strategic investment; successful completion of the mining and closure plans and obtaining the permitting on the Project in a timely manner; no adverse changes to the planned operations of the Project; continued favourable relationships with local communities; current EU and other initiatives remaining in place into the future; expected demand for molybdenum and magnesium in the EU and abroad, including by companies that expressed an interest in purchasing molybdenum and magnesium; our mineral reserve estimates including magnesium and the assumptions upon which they are based, including geotechnical and metallurgical characteristics of rock confirming to sampled results and metallurgical performance; tonnage of ore to be mined and processed; ore grades and recoveries; assumptions and discount rates being appropriately applied to the technical studies; estimated valuation and probability of success of the Company's projects, including the Malmbjerg molybdenum project; prices for molybdenum and magnesium remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company's projects; capital decommissioning and reclamation estimates; mineral reserve and resource estimates and the assumptions upon which they are based; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner or at all; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive. The Company cautions the reader that forward-looking statements and information include known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: favourable local community support for the Project's development; the projected demand for molybdenum and magnesium both in the EU and elsewhere, including by companies that expressed an interest in purchasing molybdenum and magnesium; the current initiatives and programs for resource development in the EU and abroad; the projected and actual status of supply chains, labour market, currency and commodity prices interest rates and inflation; the projected and actual status of the global and Canadian capital markets, fluctuations in molybdenum, magnesium and commodity prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar versus the Euro); operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structure formations, cave-ins, flooding and severe weather); inadequate insurance, or the inability to obtain insurance, to cover these risks and hazards; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices in Greenland, including environmental, export and import laws and regulations; legal restrictions relating to mining; risks relating to expropriation; increased competition in the mining industry for equipment and qualified personnel; the availability of additional capital; title matters and the additional risks identified in our filings with Canadian securities regulators on SEDAR+ in Canada (available at ). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described, or intended. Investors are cautioned against undue reliance on forward-looking statements or information. These forward-looking statements are made as of the date hereof and, except as required by applicable securities regulations, the Company does not intend, and does not assume any obligation, to update the forward-looking information. Neither the Cboe Canada Exchange nor its regulation services provider accepts responsibility for the adequacy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. View source version on CONTACT: For further information please contact: Ruben Shiffman, PhD Chairman, President Keith Minty, MBA Engineering and Project Management Jim Steel, MBA Exploration and Mining Geology Nauja Bianco, Public and Community Relations Gary Anstey Investor Relations Eric Grossman, CPA, CGA Chief Financial Officer Corporate office Suite 1810, 25 York Street, Toronto, Ontario, Canada M5J 2V5 Telephone 1-844-252-0532 [email protected] Webhttp:// KEYWORD: UNITED KINGDOM GREENLAND CANADA NORTH AMERICA EUROPE DENMARK INDUSTRY KEYWORD: CONSTRUCTION & PROPERTY OTHER RETAIL OTHER ENERGY OIL/GAS ENERGY MINING/MINERALS RETAIL OTHER CONSTRUCTION & PROPERTY NATURAL RESOURCES SOURCE: Greenland Resources Inc. Copyright Business Wire 2025. PUB: 06/19/2025 08:52 AM/DISC: 06/19/2025 08:50 AM
Yahoo
2 days ago
- Business
- Yahoo
Silver One Reports Filing of Technical Report to Mineral Resource Estimate on Its Candelaria Project, Nevada
Candelaria's project resources (from open-pit, underground, stockpiles and heap-leach pads) now total 108.18 million ounces of silver equivalent in the Measured and Indicated categories, and 29.46 million ounces of silver equivalent in the Inferred category Vancouver, British Columbia--(Newsfile Corp. - June 19, 2025) - Silver One Resources Inc. (TSXV: SVE) (OTCQX: SLVRF) (FSE: BRK1) ("Silver One" or the "Company") is pleased to announce it has filed on SEDAR a National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") technical report (the "Technical Report") with respect to the Candelaria Project (the "Project"), located in Nevada, USA. The Technical Report titled "Mineral Resource Estimate on the Candelaria Property" dated April 30, 2025, prepared by James A. McCrea, P. Geo, supports the initial mineral resource estimate ("MRE") at the Project (see news release dated May 6, 2025). Highlights: Mount Diablo and Northern Belle pit-constrained resources: Measured and Indicated (M&I) resource of 22,070,000 tonnes averaging 94 g/t Ag and 0.20 g/t Au, for 66.754 million ounces of silver and 141,400 ounces of gold, or 70.84 million ounces of silver equivalent ("AgEq") (see note ˧ in table 1). Inferred resource of 2,960,000 tonnes averaging 68 g/t Ag and 0.18 g/t Au, for 6.462 million ounces of silver and 17,000 ounces of gold (7.00 million oz AgEq). Underground Measured and Indicated resource of 1,200,000 tonnes averaging 168 g/t Ag and 0.27 g/t Au, for 6.45 million ounces of silver and 10,200 ounces of gold (6.50 million oz AgEq). Underground Inferred resource of 650,000 tonnes averaging 150 g/t Ag and 0.24 g/t Au, for 3.136 million ounces of silver and 5,100 ounces of gold (3.15 million oz AgEq). Candelaria's project resources (from open-pit, underground, stockpiles and heap-leach pads) now total 108.18 million ounces of silver equivalent in the Measured and Indicated categories, and 29.46 million ounces of silver equivalent in the Inferred category. Table 1. Candelaria in-ground, underground, and stockpiles mineral resource estimates. Totals above include pit Constrained Mineral Resources (Mt. Diablo and Northern Belle) at a US$9.273 NSR cut-off, within a US$27.50/oz Ag optimized engineered pit ("design pit") (see footnotes and Resource Estimate Details section below). To view an enhanced version of this graphic, please visit: 1. A Mineral Resource is a concentration or occurrence of solid material of economic interest in or on the Earth's crust in such form, grade or quality and quantity that there are reasonable prospects for eventual economic Inferred Mineral Resource is that part of a Mineral Resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade or quality Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued Indicated Mineral Resource is that part of a Mineral Resource for which quantity, grade or quality, densities, shape, and physical characteristics are estimated with sufficient confidence to allow the application of Modifying Factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit. Geological evidence is derived from adequately detailed and reliable exploration, sampling and testing and is sufficient to assume geological and grade or quality continuity between points of Indicated Mineral Resource has a lower level of confidence than that applying to a Measured Mineral Resource and may only be converted to a Probable Mineral Reserve.2. Mineral resources, which are not mineral reserves, do not have demonstrated economic viability. The estimate of mineral resources has no known issues and does not appear materially affected by any known environmental, permitting, legal, title, socio-political, marketing, or other relevant issues. There is no guarantee that Silver One will be successful in obtaining any or all of the requisite consents, permits or approvals, regulatory or otherwise for the project or that the project will be placed into production.3. The mineral resources in this study were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum ('CIM'), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the Standing Committee on Reserve Definitions and adopted by the CIM Council on May 10, 2014.4. This Mineral Resource Estimate for the near-surface material is based on material within an optimized open pit shell that results from a US$27.50/oz silver price revenue factor. Tonnes and grade reported at $27.50/oz Ag and U$2,106/oz Au.5. The Mineral Resource Estimate for underground material was calculated using a 90 g/t Ag(T) cut-off below the $27.50 Pit and using a 70% mining recovery.6. Total Ag (AgT) and Au (AuT) mean total silver and gold assays (FA/Gravity) reported by the lab. It also means Calculated silver and gold values for historic samples collected by previous operators that were assayed for cyanide soluble silver or gold only, but not assayed for total gold and silver. Average total silver and gold for Mt. Diablo, Northern Belle and Underground resources in this table are derived from silver and gold assays in a database that consists of up to 80% of cyanide soluble silver and gold assays only. Approximately 20% of the assays in the database have both FA and or gravity total silver and gold values. The latter constitutes the basis for the generation of the Calculated silver and gold values using regression formulas developed by qualified Silver One professionals. The Technical Report is available for review on SEDAR+. Readers are encouraged to read the Technical Report in its entirety, including all qualifications, assumptions and exclusions that relate to the mineral resource estimate. The Technical Report is intended to be read as a whole, and sections should not be read or relied upon out of context. Qualified Persons The mineral resource estimate was prepared by James A. McCrea, P. Geo, an independent Qualified Person as defined by National Instrument 43-101 who has reviewed and approved the content of the news release relating to the mineral resource estimate. The technical content of this news release, not related to the mineral resource estimate, has been reviewed and approved by Robert M. Cann, P. Geo, a Qualified Person as defined by National Instrument 43-101 and an independent consultant to the Company. About Silver One Silver One is focused on the exploration and development of quality silver projects. The Company holds 100% interest in its flagship project, the past-producing Candelaria Mine located in Nevada. Potential reprocessing of silver from the historic leach pads at Candelaria provides an opportunity for possible near-term production. Additional opportunities lie in previously identified high-grade silver intercepts down-dip and potentially increasing the substantive silver mineralization along-strike from the two past-producing open pits. The Company owns 636 lode claims and five patented claims on its Cherokee project located in Lincoln County, Nevada, host to multiple silver-copper-gold vein systems, traced to date for over 11 km along-strike. Silver One also owns a 100% interest in the Silver Phoenix Project. The Silver Phoenix Project is a very high-grade native silver prospect that lies within the "Arizona Silver Belt," immediately adjacent to the prolific copper producing area of Globe, Arizona. For more information, please contact: Silver One Resources Lindsey - VP, Investor RelationsPhone: 604-974‐5274Mobile: (720) 273-6224Email: gary@ Forward-Looking Statements Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Silver One cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond Silver One's control. Such factors include, among other things: risks and uncertainties relating to Silver One's limited operating history, ability to obtain sufficient financing to carry out its exploration and development objectives on the Candelaria Project, obtaining the necessary permits to carry out its activities and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Silver One undertakes no obligation to publicly update or revise forward-looking information. NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. To view the source version of this press release, please visit
Zawya
2 days ago
- Business
- Zawya
As Opec shapes oil, so must Africa define the mineral economy
Africa stands at the centre of the global mineral economy. As nations race to secure their future, the minerals driving clean energy, advanced industry, and modern defence have become instruments of power. No longer mere inputs, they now determine who leads and who lags behind. Cobalt, lithium, rare earths, graphite, and manganese have moved from being niche industrial inputs to becoming central pillars of global power. They are no longer materials in the background. Today, they shape the technologies that drive economies, structure energy systems, and define military strength. They shape everything from how we drive and power our homes to how nations secure their technological edge. What was once seen as raw material is now strategic infrastructure. And Africa sits on more of it than most care to admit. These are not side notes in global supply chains. They are signs of Africa's rising strategic relevance. The continent's resources do more than power technology. They define leverage in a changing world. Without Africa, the transition falters. The real question is no longer whether Africa matters. It is whether Africa will shape the rules that govern its own value. Africa holds the minerals that drive today's technologies, but the value they create is still captured elsewhere. The continent fuels global supply chains yet it has little say in how those chains are built or who benefits most. The continent extracts and exports, while others process, price, and profit. The system was not designed for Africa to lead. That is exactly why it must now be reimagined. The resources come from African soil, yet the rules are written elsewhere. This is not a reflection of geological fate. It is the result of political choices, institutional weakness, and an outdated economic architecture that continues to externalize Africa's value while internalising its vulnerabilities. That model must be dismantled. These resources are not geological accidents. They are instruments of global power. These minerals are not simply resources. They shape who holds power in the world: Who drives the economy, who commands influence, and who sets the rules. Africa cannot afford to treat them as mere exports. They must be governed with discipline and unity, guided by a long-term vision rooted in sovereignty and shaped by Africa's own priorities. This contradiction is not new. For decades, Africa's minerals have fuelled industrial revolutions elsewhere while leaving behind depleted landscapes, underdeveloped infrastructure, and fragile public institutions. The extractive model mirrors the colonial logic. Raw materials leave, wealth accumulates abroad, and African states are left to manage the residue. As the global competition for supply intensifies, this pattern risks repeating itself unless African governments take bold, deliberate action. The shift must begin with mindset and posture. Africa must move from being a site of extraction to a centre of strategic leverage. Its minerals are not just economic goods. Africa holds real leverage. But that leverage means nothing if it is wasted on scattered policies, backroom deals, or short-term fixes. Minerals alone do not build strength. Strategy does. What we need now is one path, one vision, driven by sovereignty, built on industry, and owned by the continent. Governments must reassert authority over mineral governance. Licensing must be transparent. Contracts must be renegotiated in the public interest. Strategic minerals must be classified and protected accordingly. But domestic reforms alone are not enough. Africa's bargaining power grows exponentially when states act together. The African Union and African Continental Free Trade Area must become active platforms for regulatory harmonisation and collective negotiation. As Opec reshaped oil, Africa must now define its own terms in the mineral economy. It must be a rule shaper, not a rule taker. It is time to end the export of raw minerals. Cobalt, lithium and graphite should not leave African soil without being processed. Real value comes from how minerals are used, not just how they're mined. Africa must steer at every level of the value chain: Refining, processing, manufacturing, and innovation. That is how real power is built, industries take root, and sovereignty is secured. That requires more than resources. It calls for infrastructure, investment, skilled talent, and the political will to lead. Above all, it will require political resolve. Processing our own resources is not optional. It is strategic necessity. Africa must also rethink how it partners. For too long, foreign investment has delivered extraction without transformation. The future lies in joint ventures that create value at home where African countries hold equity, access technology, and share decision-making power. While China remains a major player, Africa must diversify and define the terms of engagement. Partners from Southeast Asia, Latin America and beyond offer alternatives. But all partnerships must serve African priorities, not external agenda. The age of one-sided dependence must end. This new strategy must also centre the people. Environmental justice and community rights must come first. Unchecked mining has caused deep harm, uprooted families, and denied communities any say. Those who live near these resources deserve a voice in decisions and a share in the value. Local equity, clear consultation and environmental safeguards are not burdens. They are the foundation of legitimacy. Accountability must be enforced not just by governments, but by civil society, media and citizens. Some countries have begun to chart this path. Bans on raw mineral exports, new national policies and renegotiated contracts point to a growing awareness. But these efforts need to move beyond the national level and be scaled into a continental strategy. This is a rare convergence: Global dependence on minerals and African leverage over supply. The world needs what Africa has, but for the first time in decades, the terms are not yet settled. Africa should not let this moment pass. This is not just about wealth; it is about who controls the future and who continues to be left behind. The resources are here. The power lies in what Africa chooses to do with them. The mineral revolution is already underway. The question is not whether Africa will take part, it is whether it will lead. A lot more will depend on the willingness of African states to act with unity, ambition, and strategic clarity. The global economic order is changing rapidly. Africa must move faster and move together. © Copyright 2022 Nation Media Group. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
4 days ago
- Business
- Zawya
Egyptian government, Elsewedy discuss expanding cooperation in petroleum, mining sectors
Egypt - Minister of Petroleum and Mineral Resources Karim Badawi met with Ahmed El Sewedy, CEO and Managing Director of Elsewedy Electric, to discuss avenues for expanding joint cooperation in the fields of petroleum, mineral resources, petrochemicals, and green energy. During the meeting, Badawi presented the six foundational pillars of the Ministry's strategic plan, highlighting extensive investment opportunities within Egypt's petroleum sector and its rapidly developing mining industry. He emphasised the significance of transforming the Egyptian Mineral Resources Authority into the 'Mineral Resources and Mining Industries Authority'—a newly established economic body that is expected to enhance the Authority's operational efficiency, foster better alignment with government and investor interests, and attract both foreign and local investment into the mining sector. This transformation, he noted, is a major step towards positioning Egypt as a regional hub for value-added mining activities. By tapping into both domestic mineral wealth and raw materials imported from African nations, Egypt aims to establish complementary industries that create added value across the supply chain. Badawi also reaffirmed the Ministry's commitment to encouraging private sector involvement across these key sectors, stressing the mutual benefits for the state and investors alike. Ahmed El Sewedy, for his part, reiterated the group's strong interest in investing in mineral resources such as phosphate and kaolin, particularly through the development of downstream industries that enhance the value of these materials. He highlighted Elsewedy Group's broad international presence, with operations in more than 40 countries, and affirmed the company's intention to expand its footprint in Egypt through investments in mining, green energy, petroleum exploration services, and petrochemical industries. The meeting was also attended by senior officials, including Samir Raslan, Undersecretary of the Ministry for Exploration and Agreements; Yasser Ramadan, Chairman of the Egyptian Mineral Resources Authority (EMRA); and Mohamed Radwan, Director of the Egypt Upstream Gateway and Vice President for Agreements and Exploration at Ganoub El Wadi Holding Company for Petroleum. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (
