19 C
Belgrade
29/05/2024
Mining News

Amaroq Minerals set to advance Greenland assets as JV completes

Amaroq Minerals Ltd told investors it has now completed the joint venture agreement with GCAM, with the release of funds from escrow. The company now retains a 51% interest in the Gardaq vehicle which has been funded with £18mln by GCAM.

Through the joint vehicle, the company expects to focus on exploring for significant strategic minerals deposits in the Sava Copper Belt, Stendalen, Paatusoq and Kobberminebugt.

Supported by

“I am delighted to confirm that all resolutions have been met and our Strategic Minerals Joint Venture transaction with GCAM has now closed, with approval from the Greenland government,” Amaroq chief executive Eldur Olafsson said in a statement.

“This partnership is an exciting milestone for our strategic minerals venture, and we look forward to progressing our strategic mineral targets along with the exploration across our licence portfolio, with the aim of defining further non-precious strategic mineral assets,” he added.

 

Source: Proactive

Related posts

Bridging environmental concerns: Serbia’s lithium extraction dilemma

David Lazarevic

Lithium mining divides Portugal’s rural communities

David Lazarevic

Lundin Mining adopts sustainability-linked loan structure to enhance environmental and social impact

David Lazarevic
error: Content is protected !!