The Greenland Government has approved an indirect transfer of the exploitation license for the area at Killavaat Alannguat from Greg Barnes' company Rimbal Pty Ltd to the Australian-American company Critical Metals Corp. This is stated in a press release recently issued by the Department of Mineral Resources.
The fact that it is an indirect transfer means that it is the ownership of the company holding the license that is being changed, while the license itself remains registered with Tanbreez Mining Greenland A/S.
Approval after overall assessment
New Naalakkersuisut for Raw Materials, Mute B. Egede (IA) states in connection with the approval of the transfer:
– The Greenlandic company Tanbreez Mining Greenland A/S is still the licensee for the permit. This approval changes only the underlying ownership group. After the indirect transfer, it is the company Critical Metals Corp that has the controlling influence in Tanbreez, where before the approval it was Rimbal Pty Ltd.
He further says that when Naalakkersuisut approves a transfer of a mineral permit, it is essential that it is done in accordance with the Mining Act:
- Naalakkersuisut has in this connection made an overall assessment of the indirect transfer, including whether requirements for financial and technical capacity will continue to be maintained. A transfer of a project must not impair its foundation or future opportunities, including ensuring that consideration for society, the environment and sustainable development continues to be ensured, says Múte B. Egede.
Received exploitation permit in 2020
In 2020, Tanbreez Mining Greenland received a exploitation permit for the eudialyte mineral valid for 30 years.
The company has already had its EIA (Environmental Impact Assessment) and SIA (Social Sustainability Assessment) as well as IBA (Impact Benefit Agreement) approved, but must still have Naalakkersuisut's approval of a mine plan and a closure plan before exploitation activities can begin.
