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Greenland Minerals cuts civil costs for Kvanefjeld rare earths project by 44%

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Greenland Minerals cuts civil costs for Kvanefjeld rare earths project by 44%

Greenland Minerals Ltd. said March 26 that it slashed civil costs for its Kvanefjeld rare earths project in Greenland by 44% to US$175 million after completing engineering studies to optimize civil design and construction.

The lower cost, compared to an April 2016 feasibility study, was achieved primarily through reducing civil earthworks for site preparation, an updated port design and increased use of local materials.

An optimized feasibility study will contain further updates on Kvanefjeld's capital and operating costs. It is due in the second quarter.