Houston, March 3 (Argus) - The Canadian federal government department, the Department of Natural Resources Canada, has conditionally approved a $7 million (equivalent to $5.1 million) grant for the Canadian mining developer Greenland Resources for its Malmbjerg project in Greenland.
The company stated that this funding will be used to assess the feasibility of processing native molybdenum ore for processing and to evaluate the potential for recovering magnesium and rare earths as by-products from the Malmbjerg project.
In June this year, Greenland Resources obtained a 30-year mining license for molybdenum and magnesium from the eastern part of Greenland for the Malmbjerg project, but has not yet started commercial production.
The company has signed long-term supply agreements for the project with Finnish stainless steel producer Outokumpu, German metal supplier Hempel Metallurgical, Italian specialty steel manufacturer Cogne Acciai Speciali, and German steel manufacturer Georgsmarienhütte Holding.
