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Greenland elections

sezerozger/Adobe Stock

The Rare Earths Monthly Metals Index (MMI) fell by 1.9% for this month’s reading, as the Greenland elections this week could have significant ramifications for a rare earths project in the country.

April 2021 Rare Earths MMI chart

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Left-wing party against rare earths mine wins Greenland elections

Rare earths mining stood front and center in Greenland’s elections earlier this week.

The left-wing Inuit Ataqatigiit party with 37% of the vote, Reuters reported.

What does Greenland’s election have to do with rare earths? The prevailing party ran on opposition to a mining project at Kvanefjeld on the southern tip of the island.

On its website, Australia-based Greenland Minerals Ltd. could be the most significant source of rare earths in the Western world.

Kvanefjeld offers “massive bulk resources,” the firm indicates, in addition to access to year-round direct shipping.

However, the election result could prove to be a significant blow to the site’s prospects.

Reuters quoted party leader Mute Egede, who said the project “won’t happen.”

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The Vedanta copper plant in India remains shut three years after local residents protested against pollution stemming from the plant’s operation.

That, however, has not fazed the Vedanta Group.

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Vedanta to set up new copper smelter

Vedanta now plans to set up yet another plant in the country. The proposed copper smelter plant will have a capacity of 500,000 tons per year.

copper smelter

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Vedanta Ltd, the subsidiary of Vedanta Resources, has called for expressions of interest from provincial governments in India regarding a new copper smelter unit.

A Vedanta spokesperson India’s copper requirements will grow. Furthermore, the spokesperson emphasized ample supply of copper is critical for implementation of new-generation technologies.

Three years later

It’s been about three years since Vedanta’s Tamil Nadu smelter was shut down, causing it losses that are already running into millions of dollars.

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