Greenland gold mine may start next year

By NUNATSIAQ NEWS

A Toronto-based mining company, Crew Development, said this week that it may start production next year on Greenland’s first gold mine.

Crew said in a company statement that it believes the Nalunaq deposit, discovered in 1993, has potential well beyond what is reflected in its current estimates.

The Reuters news agency reported that the company will ship gold ore for processing to a plant outside of Greenland.

“We are considering processing the ore at a plant in Newfoundland, Canada, to begin with,” Jon Steen Petersen, Crew’s vice-president of exploration, said in the Reuters report. “In two years’ time, we hope to be able to prove sufficient resources at the gold deposits to initiate processing in Greenland.”

Crew owns 82 per cent of the company, while the Greenland firm NunaMineral, holds the remaining 18 per cent.

Nalunaq, on the southern tip of Greenland, is believed to contain a stockpile of about 20,000 ounces of gold.

The total measured and indicated resources are about 500,000 tonnes of gold ore with a gold content of 400,000 ounces or 12.4 tonnes, Petersen said.

Crew will soon release a final feasibility study on financial and technical aspects of the project.

Later this year, application for a mining licence is expected to be processed by Greenland officials.

Share This Story

(0) Comments