Business
Greenland Government Policy Update
Greenland Government Policy Update.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 3934R Rare Earth Minerals PLC 25 October 2013 \n \n\n25 October 2013\n \nRARE EARTH MINERALS PLC\n(\"Rare Earth Minerals\", \"REM\" or \"the Company\")\n \n \nGreenland Government Abolishes Zero Tolerance Policy on Uranium Mining\n \nREM (AIM:REM) is pleased to advise that Greenland's Parliament voted yesterday in favour of removing a long-standing zero-tolerance policy concerning uranium and other radioactive elements ('the zero-tolerance policy'). This decision represents a significant moment for Greenland, as it places Greenland on the path to a potential uranium-producer status, and thereby opens up coincident resources such as rare earth elements to potential exploitation. \n \nDavid Lenigas, REM's Executive Chairman, stated:\n \n\"REM has a number of approved Exploration Licences that should benefit significantly from this new Greenland Government decision, in particular the 38 square kilometer Exploration Licence 2013/20 which was recently granted by the Greenland Government on the 10 September 2013. This Licence immediately adjoins the north eastern boundary is the large Kvanefjeld rare earth element, uranium and zinc deposit.\"\n \n\"A decision like this automatically accelerates foreign direct investment in to mineral and metal exploration in Greenland. REM will now work closely with its geological consultants, SRK Consulting, to accelerate the search for rare earth elements on its concessions.\"\n \nREM owns concessions immediately adjacent to and surrounding Greenland Minerals and Energy Limited's (\"GGG\") Kvanefjeld Project (rare earth elements, uranium, zinc). The global resource base (JORC-code compliant) established by GGG for Kvanefjeld is said to contain 575 Mlb's U3O8 and 10.3 Mt of rare earth oxide (REO).\n \n \n- ends -\n \n \n \nGlossary of Technical Terms:\n \n· Mt = million Tonnes\n· Mlb = million pounds\n· U3O8 = Triuranium Octoxide\n \n \nFor further information please contact:\n \nRare Earth Minerals plc &n...