Greenland minerals and energy

Greenland Minerals and Energy Limited
Proprietary limited company
Traded as ASX: GGG
Industry minerals exploration
Headquarters Perth, Australia
Key people
 John Mair, MD
Anthony Ho, Chairman
Website http://www.ggg.gl

Greenland Minerals and Energy Limited, is an Australian[1] exploration company focusing on acquisition, exploration, and development of its license area over the northern ilimaussaq intrusive complex in Greenland. GGG currently aims at exploring of its flagship project, Kvanefjeld project, in Southern Greenland.[2]

Kvanefjeld Project

The Kvanefjeld project is located near the southwest of Greenland consisting of multi-element deposit including Rare Earth Elements (REE), Zinc, and Uranium, within marginal phases of the ilimaussaq intrusive complex.[3] As at March 2011, the project has defined a total resource of 619 Mt, with 71% indicated category, @ 10,585 ppm TREO, 257 ppm U3O8, 9,721 ppm REO, 864 ppm Y2O3, 2,189 ppm Zn which contained 6.55 Mt TREO, 350 Mlbs U3O8, 1.36 Mt Zn using 150 ppm U3O8 cut-off. The project shows higher grade portions located close to the ground surface. GGG aims to produce light and heavy RE concentrates, zinc concentrate, Uranium concentrate, large-scale outpur, and long life of mine in the project area.[3]

Controversy

According to a 2009 article by the Sydney Morning Herald, 20% of GGG was at the time owned by companies controlled by a mining prospector known as Mihran Shemesian. The authors of the article said they had tracked Shemesians investments through a number of listed companies, including one named Range Resources, which owned "the oil rights to the Somalian pirate centre of Puntland". A former police sergeant named Joseph Obeid, who was dismissed from Victoria Police after being found guilty of five of seven disciplinary charges against him, was said to work for the company.[4] According to another article by the Sydney Morning Herald from 2008, Range Resources "has paid millions of dollars in controversial fees to Somali rebels responsible for a surge in international piracy".[5]

In November 2013, an opinion piece published in the Danish newspaper Dagbladet Information, signed by members of the Danish parliament Johan Lund Olsen and Finn Sørensen and 4 other individuals, raised concern that Greenlandic and Danish authorities had not properly investigated the allegations made by Australian newspapers of ties between GGG's owners and various figures with criminal backgrounds.[6]

References

  1. ↑ Chinese Workers—in Greenland? February 10, 2013 BusinessWeek
  2. ↑ "Greenland Minerals and Energy". Reuters. Retrieved 21 June 2011.
  3. 1 2 "Greenland Minerals Company Presentation - April 2011" (PDF). Retrieved 2011-04-01.
  4. ↑ http://www.smh.com.au/business/at-last-a-face-to-the-many-names-and-deals-20090923-g2qw.html
  5. ↑ http://www.smh.com.au/business/mining-firm-tied-to-somali-oil-pirates-20081119-6bld.html#ixzz2qC0I7Qiy
  6. ↑ http://www.information.dk/480186
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