Rare Earths from Kvanefjeld for the World's

Rare earths from Kvanefjeld for the world’s greener technology – but also hundreds of jobs and billions in revenue for Greenland GREENLAND MINERALS A/S Rare earths from Kvanefjeld for the world’s greener technology – but also many hundreds of jobs and billions in revenue for Greenland is published by Greenland Minerals A/S Issortarfimmut 7, 201 PO Box 1350 DK-3900 Nuuk Phone +299 482 699 E-mail: [email protected] www.ggg.gl Journalistic adaptation: FreelanceFyn Graphic production: ProGrafisk ApS Published January 2021 Data, calculations and assessments and the assumptions behind conclusions, results etc. are contained in the Environmental Impact Assessment Report and the Social Impact Assessment Report which will be available on the Naalakkersuisut web site. Contents Preface . 4 No green and clean world without rare earth metals. 7 Permanent magnets play a key role in the development of green technologies . 7 Many more electric cars and much more wind power. 7 The Kvanefjeld can secure the future supply. 8 The Kvanefjeld project is moving closer to the start date. 8 The Ilimaussaq complex. 9 3 million tonnes of ore needed to produce 30,000 tonnes of rare earths. 9 Greenland has come this far in the green transition. 10 Hundreds of new jobs and billions in tax revenue . 13 More than 900 new permanent jobs in Greenland . 13 New business opportunities for Greenlandic companies and tradesmen. 13 Accommodation of employees . 14 Education and training of the Greenlandic workforce . 15 Revenue from taxes make Greenland far more economically self-sustaining. 16 Many families will experience a financial boost . 16 High standards ensure the employees, the population and the environment. 18 The environment and the health and safety of employees and the population are given very high priority. 19 Dust and noise. 20 Radioactive material . 20 Mining waste (tailings) will be deposited in a storage facility . 23 The embankments built to withstand earthquakes and extreme weather . 23 Two ways to cover tailings in the storage facility . 23 Preface International Days are held for many He continued: electric cars worldwide may increase different purposes. On 7 September to almost 140 million in 2030 - an 2020, another was added to the list ”We must also urgently address the increase of approx. 1,900 %. - perhaps the most important one deeper threat of climate change. Lim- • Wind turbines use significant and in- - when the UN held the first annual iting global warming to 1.5 degrees creasing quantities of rare earths in International Day of Clean Air. will help reduce air pollution, death their power generation systems. The UN Secretary-General António and disease … Reinforced environ- amount of electricity generated by Guterres said, among other things, on mental standards, policies and laws wind turbines is expected to increase the day: that prevent emissions of air pollu- from 565 GW in 2018 to 2,000 GW in tants are needed more than ever”. 2030 - an increase of approx. 250 %. ”Around the world, nine out of every In comparison, Greenland’s largest ten people breathe unclean air. Air hydropower plant, Buksefjordsvær- pollution contributes to heart dis- Greenland has the opportunity to ket, has a capacity of 0.045 GW. ease, strokes, lung cancer and other become a key player in the global • Electric bicycles, mopeds and respiratory diseases. It causes an fight for a better climate. scooters use motors with permanent estimated 7 million premature deaths In this publication you can read magnets. By 2030, sales are expect- every year, predominantly in low- and about how metals produced from ed to double to almost 60 million middle-income countries. Air pollu- Kvanefjeld can help make the world a devices. tion also threatens the economy, food greener place. • Permanent magnets are also used security and the environment”. We are talking in particular about extensively and increasingly in in- 4 rare earth elements with the exotic dustrial pumps, computers, smart- names neodymium, dysprosium, phones and in a wide range of other praseodymium, terbium. electronic appliances. These four elements are used in the manufacture of some of the On the following pages you can read world’s strongest magnets - the so- how Kvanefjeld could supply 15-20 % called permanent magnets, that are of the world’s demand for rare earth needed to ensure the green transi- for permanent magnets thereby tion: making a decisive contribution to the • Almost all electric cars use motors global fight against greenhouse gas powered by permanent magnets. emissions. • According to the International Energy Another significant contribution Agency the current just over 7 million that the Kvanefjeld project will make 4 will be to public tax revenues, a contribution which can be measured in billions. Income that can make a significant contribution to maintain welfare in Greenland and be a huge step on the road to a more economically self-sustaining Green- land. But - and this is both crucial and essential - all mining projects must be carried out sustainably. Greenland Minerals has therefore for many years, in collaboration with the authorities, carried out extensive studies to ensure that the project is sustainable in terms of health, safety and environment. The environmental and social reports are now ready for public consultation. This publication looks into the future and summarizes the main conclusions of the environmental and social assessment reports. We wish you a good read. Greenland Minerals 5 6 No green and clean world without rare earth metals What do wind turbines and electric Permanent magnets play a electric vehicles and wind power in cars / hybrid cars have in common? key role in the development the coming decades. You are right. They all help reduce of green technologies In just ten years, it is expected the world’s dependence and con- The countries of the world have that almost 140 million electric cars sumption of coal, oil and gas. committed themselves to the climate will be in use around the world. By And that will have an effect on the goals of the Paris Agreement. If they 2030 it is expected that wind power CO2 balance. are to meet the goals, clean, green capacity globally will have increased But the green technologies have and renewable energy is the only by approx. 250 % to 2,000 GW. The another common feature. They are all way forward. This is where rare earth increased production of electric cars significant consumers of rare earths metals, especially the four magnet and wind turbines in the years to elements. Each of which has its own metals, will play a key role. Demand come naturally leads to an increased special characteristics. for rare earths will grow as coun- demand for raw materials in the two 4 out of a total of 17 rare earths tries of the world work towards their industries, including an increased are called magnet metals because climate targets. need for rare earth elements. Or more they possess properties which en- specifically, the four magnet metals hance the performance and efficiency Many more electric cars with strange names like dysprosi- of permanent magnets. and much more wind power um, neodymium, praseodymium and The engine in an electric car is Governments around the world are terbium. driven by permanent magnets, the currently preparing and adopting In contrast to for example steel generator in a modern wind turbine climate policies with clearly defined plate supplies, which are easy to uses permanent magnets and the goals for, for example how many obtain, the situation is complete- engine in many industrial pumps is electric cars should be on the roads ly different with the supply of rare driven by permanent magnets. Just in 2030 and beyond and how many earths. Rare earths are only mined in as they are part of electric bicycles, onshore and offshore wind turbines a few countries around the world – computers, smartphones and pretty should be put into operation within primarily in China, the United States, much all the electronics we are sur- the same time horizon. Australia and Burma – they are also rounded by in our everyday life. Both the car industry and wind costly to extract and technically turbine manufacturers are putting complicated to process into end-use extra efforts into development and applications. The vast majority of production, in order to meet the the world’s production of rare earths rapidly growing global demand for occurs in China. It is probable that, 7 the rare earth products will continue to grow. With an expected annual production of approx. 30,000 tonnes of rare earths, Kvanefjeld could meet 15-20 % of the current annual global demand. The Kvanefjeld project is moving closer to the start date Since 2007, Greenland Minerals has carried out extensive exploration of the Kvanefjeld deposit. The exploration programme has demonstrated that the Kvanefjeld deposit contains one of the world’s largest inventories of rare earths. Since 2011, the exploration activ- ities have been supplemented with a large number of studies, which have examined the economic, social and environmental impacts of the pro- posed mining project. Here in the beginning of 2021, Greenland Minerals now awaits the Greenland Government’s approval of the mining project’s Environmental Impact Assessment (EIA) report and over time, China’s share of global rare The Kvanefjeld can secure the Social Impact Assessment (SIA). earth production will decline. future supply According to Greenlandic law, both Currently, Greenland has the Products containing rare earths met- reports must be subjected to public opportunity to secure a place on the als are in high demand on the world consultation before the necessary stage of global supply of rare earths. market. With the global transition to licenses can be issued.

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