Greenland Resources Inc. (NEO: MOLY | FSE: M0LY) has received a positive renewable energy report from COWI A/S, signaling a commitment to sustainability at the Malmbjerg Molybdenum Project. The initiative aligns with Greenland’s agreement with the European Union (EU) for strategic sustainable raw materials projects.
Renewable Energy Solutions for Malmbjerg Project
Approximately 50% of the Project’s power consumption and decarbonization is currently addressed by an aerial rope conveyor, which transports ore using gravity, generating no carbon emissions. The COWI Report recommends a mix of onshore wind and solar energy, estimating a 35% reduction in total power consumption, providing approximately 33MW of peak power. The remaining 15% could be decarbonized with carbon capture technologies or alternative green fuel.
Strategic Collaboration for Sustainable Development
Jens Højgaard Christoffersen, President and Group CEO of COWI, expressed pride in contributing to the Malmbjerg Molybdenum Project’s sustainability vision. Together with Greenland Resources, they aim to set a precedent for eco-conscious industrial development in challenging Arctic conditions.
Setting Strict Sustainability Goals
Dr. Ruben Shiffman, Executive Chairman of Greenland Resources, highlighted their commitment to strict sustainability goals. The project aims to become one of the lowest carbon footprint molybdenum mines globally, with potential implications for the EU’s molybdenum demand, where the Malmbjerg project could supply 25% of the total demand.
Qualified Person Approval and Company Overview
The news release has been approved by Mr. Jim Steel, P.Geo., M.B.A., a Qualified Person. Greenland Resources, a Canadian public company, focuses on developing its 100% owned Climax-type pure molybdenum deposit in Greenland. The Malmbjerg project, with Proven and Probable Reserves of 245 million tonnes, emphasizes environmental friendliness and reduced water usage.
Molybdenum’s Critical Role in the Green Energy Transition
Molybdenum, a critical metal for steel and chemicals, plays a vital role in the green energy transition. The Malmbjerg project strategically positioned in Greenland can potentially supply 25% of the EU’s molybdenum demand, contributing to environmentally friendly high-quality molybdenum production.
In summary, Greenland Resources’ collaboration with COWI marks a significant step towards sustainable and eco-conscious mining practices, aligning with global efforts for a greener future.
Source：businesswire.com
