Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Greenland Minerals Limited    GGG   AU000000GGG4

GREENLAND MINERALS LIMITED

(GGG)
  Report
SummaryChartsNewsCalendarCompanyFinancials 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Greenland Minerals : Five Eyes alliance urged to forge ties with Greenland to secure minerals

03/04/2021 | 01:25am EDT
Aerial view of the Kringlerne rare earth deposit, near the town of Narsaq

LONDON (Reuters) - The intelligence sharing alliance known as Five Eyes should forge ties with Greenland to boost supplies of critical minerals and cut dependence on China, a think tank said on Thursday.

Greenland has huge deposits of rare earths, a set of 17 minerals used in a myriad of applications from electric vehicles to defence goods, a report by the London-based Polar Research and Policy Initiative https://polarconnection.org said.

China controls about 90% of the supply of rare earths.

The Five Eyes grouping of Australia, Britain, Canada, New Zealand and the United States, should expand its framework to include "resource intelligence, technical collaboration, major project financing and supply chain integration for minerals and materials critically important to national and economic security", the report said.

It is natural for the Five Eyes to target Greenland for its mining and rare earth potential because two thirds of the 41 licence holders in Greenland's mining sector were linked to Britain, Canada and Australia, the report added.

"Greenland's vast critical minerals reserves and the sheer number of British, Canadian and Australian companies operating in Greenland make it a new frontier for Five Eyes," said the report, made available to Reuters ahead of its release on Friday.

U.S. President Joe Biden's administration said last month it will review key U.S. supplies, including rare earths, to ensure other countries cannot weaponise them against the United States.

Two Australia-based mining companies are racing for approval for mines in Greenland to dig into what the U.S. Geological Survey calls the world's biggest undeveloped deposits of rare earth metals.

"The UK, Canada and Australia have remained relevant to Greenland over recent decades as home to some of the world's leading clusters of energy and mining expertise," the report said.

The head of the think tank, Dwayne Menezes, is also the director of the secretariat of Britain's all-party parliamentary group for Greenland.

(Reporting by Eric Onstad;Editing by Elaine Hardcastle)

By Eric Onstad


© Reuters 2021
All news about GREENLAND MINERALS LIMITED
04/09GREENLAND MINERALS  : Australia's Greenland Minerals says it is focused on rare ..
RE
04/08Banks, miners help Australian shares notch 13-month closing high
RE
04/07GREENLAND MINERALS  : Main opposition party against mining wins Greenland electi..
AQ
04/07GREENLAND MINERALS  : Left-wing party wins Greenland election, opposes big minin..
RE
04/06GREENLAND MINERALS  : election shows divide over rare-earth metals mine
AQ
04/06GREENLAND MINERALS  : Polls close in Greenland election closely watched by globa..
RE
04/05Greenland holds election closely watched by global mining industry
RE
03/04GREENLAND MINERALS  : Five Eyes alliance urged to forge ties with Greenland to s..
RE
03/02INSIGHT : Mining magnets: Arctic island finds green power can be a curse
RE
03/02FACTBOX : Miners gear up global rare earth projects as prices surge
RE
More news
Financials
Sales 2020 0,16 M 0,12 M 0,12 M
Net income 2020 -3,08 M -2,36 M -2,36 M
Net cash 2020 36,0 M 27,6 M 27,6 M
P/E ratio 2020 -102x
Yield 2020 -
Capitalization 148 M 113 M 113 M
EV / Sales 2019 2 293x
EV / Sales 2020 2 018x
Nbr of Employees 28
Free-Float 82,1%
Chart GREENLAND MINERALS LIMITED
Duration : Period :
Greenland Minerals Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends GREENLAND MINERALS LIMITED
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Managers and Directors
NameTitle
John Lefroy Mair Managing Director & Executive Director
Miles Simon Guy Chief Financial Officer & Secretary
Peng Ho Non-Executive Chairman
Simon Kenneth Cato Non-Executive Director
Xiaolei Guo Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
GREENLAND MINERALS LIMITED-58.49%113
BHP GROUP7.68%164 660
RIO TINTO PLC4.22%129 759
ANGLO AMERICAN PLC25.84%51 919
GRUPO MÉXICO, S.A.B. DE C.V.20.15%39 222
SAUDI ARABIAN MINING COMPANY (MA'ADEN)36.54%18 146