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Greenland Resources Provides an Update on the EU Critical Raw Materials Act and Participation at the 2023 EIT / ERMA Raw Material Summit in Brussels, Belgium
TORONTO / Mar 16, 2023 / Business Wire / Greenland Resources Inc. (NEO: MOLY | FSE: M0LY) (“Greenland Resources” or the “Company”) is pleased to provide an upda
About this update from Greenland Resources Inc.
[{"type":"text","content":"TORONTO / Mar 16, 2023 / Business Wire / Greenland Resources Inc. (NEO: MOLY | FSE: M0LY) (“Greenland Resources” or the “Company”) is pleased to provide an update on today’s European Commission proposed comprehensive set of actions by the European Commission (the “EC”) to ensure the EU's access to a secure, diversified, affordable and sustainable supply of critical and strategic raw materials to meet its Green Deal and digital objectives to be approved by the European parliament (see: https://audiovisual.ec.europa.eu/en/topnews/M-009272). In addition, from the 15th to the 17th of May, 2023, the Company plans to present the Malmbjerg molybdenum project at the EIT RawMaterials Summit in Brussels, Belgium and was asked to participate in a round table on responsible mining (see: https://www.eitrmsummit.com/programme). The Company sees all these events as very positive for the Malmbjerg molybdenum project. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230316005719/en/ Highlights of EC’s press release about the proposed Critical Raw Materials Act The EC, in their capacity as the executive body of the EU responsible for drawing up proposals for new European legislation, has proposed the Critical Raw Materials Act which aims to: Equip the EU with the tools to access and secure the sustainable supply of critical and strategic raw materials Identify strategically important projects that would benefit from streamlined permitting and access to finance Protect the environment by improving circularity and sustainability of critical raw materials Set benchmarks for domestic capacities along the strategic raw material supply chain and to diversify EU supply by 2030 by at least 10% of the EU's annual consumption for extraction, at least 40% of the EU's annual consumption for processing, at least 15% of the EU's annual consumption for recycling, and not more than 65% of the EU’s annual consumption of each strategic raw material from a single third country Reduce the administrative burden and simplify permitting procedures for critical raw materials projects Invest in research, innovation, and skills surrounding these goals Create a European Critical Raw Materials Board to coordinate and provide advice for strategic projects’ access to finance Related to the EIT Raw Materials Summit in...