Business
Greenland Resources Signs Letter of Intent With FLSmidth for Metallurgical Process Equipment
TORONTO--(BUSINESS WIRE)--Greenland Resources Inc. (NEO:MOLY, FSE:M0LY) (“Greenland Resources” or the “Company”) is pleased to announce the signing of a letter
About this update from Greenland Resources Inc.
[{"type":"text","content":"TORONTO--(BUSINESS WIRE)--Greenland Resources Inc. (NEO:MOLY, FSE:M0LY) (“Greenland Resources” or the “Company”) is pleased to announce the signing of a letter of intent (“LOI”) for supply of metallurgical process equipment, technology, services, and technical solutions for the Malmbjerg Molybdenum Project (the “Project”) with Danish FLSmidth A/S, a full flowsheet technology and service supplier to the global mining and cement industries. The Company has now added FLSmidth to the list of Denmark based companies that are associated with the Project such as the world class Danish chemical molybdenum end user announced in the Company’s press release of January 19, 2023 as well as WSP Danmark A/S for environmental and social and COWI A/S for navigation. These relationships are expected to facilitate equipment financing from government banks in Denmark. About FLSmidth FLSmidth is a full flowsheet technology and service supplier to the global mining and cement industries. They help their customers to improve performance, lower operating costs and reduce environmental impact. With their MissionZero programme, they have set a target of providing solutions for zero-emissions mining and zero-emissions cement production by 2030, supporting a green transition built upon sustainable materials. FLSmidth operations span the globe and include close to 11,000 employees, present in more than 60 countries. In 2022, FLSmidth generated revenue of DKK 21.8 billion. To learn more, visit https://www.flsmidth.com About Greenland Resources Inc. Greenland Resources is a Canadian public company with the Ontario Securities Commission as its principal regulator and is focused on the development of its 100% owned world-class Climax type pure molybdenum deposit located in central east Greenland. The Malmbjerg molybdenum project is an open pit operation with an environmentally friendly mine design focused on reduced water usage, low aquatic disturbance and low footprint due to modularized infrastructure. The Malmbjerg project benefits from a NI 43-101 Definitive Feasibility Study completed by Tetra Tech in 2022, with Proven and Probable Reserves of 245 million tonnes at 0.176% MoS2, for 571 million pounds of contained molybdenum metal. As the high-grade molybdenum is mined for the first half of the mine life, the average annual production for years one to ...