Reported about 22 hours ago
Greenland has granted a 30-year mining permit to Greenland Resources for the Malmbjerg project, aimed at extracting molybdenum, a critical metal essential for sectors like aerospace and energy. This project, supported by the European Union, is expected to produce up to 32.8 million pounds of molybdenum annually, potentially supplying 25% of Europe's demand. The approval comes amid increased mining activities in Greenland and growing geopolitical tensions regarding metal exports, particularly from China, which has imposed restrictions on certain metals.
Source: YAHOO