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Eclipse Metals Ltd (ASX:EPM) has its sights set on securing a mining licence for its Ivittuut Project in Greenland in 2021, which has near-term cryolite, fluorite and rare earth production potential from processing tailings and low-grade stockpiles.
The company is confident the project has the potential for a large, highly profitable industrial mineral/REE operation in the mining-friendly jurisdiction.
In the next 6-12 months Eclipse is targeting a resource upgrade, the mining licence application, environmental assessment, pit water testing and dewatering design – and a pre-feasibility study in 2021/2022.
Ivittuut development opportunities
The mine process tailings and remnant stockpiles highlight the short-term cashflow potential of the existing Ivittuut pit – which was once the world’s largest and only cryolite mine, producing 3.8 million tonnes of cryolite during a 120-year mining history, ceasing in 1987.