GGG 4.17% 11.5¢ greenland minerals limited

Exploitation Licence - Greenland

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    I know that shareholders are keen to know when the Mining Application will be reviewed and  determined. Estimates of " next month" or "soon" are questionable when you consider the date the application was lodged. However I may be wrong.

    Unlike many other countries the Greenland process in reviewing information presented is slow. This week when I asked the Greenland Authorities for a time period  they advised a given timeframe could not be estimated. Apparently the "Administration" has been in dialogue with GGG for some time. When I asked a GGG executive he advised that public servants were on vacation and a date was unknown.

    The information stated below was provided by the Greenland Ministry of Mineral Resources.

    The processing time from commencement of processing to a decision is made varies considerably depending on the complexity of the application and the potential impacts, in particular in relation to processing of applications for exploitation licences. Further, the quality and completeness of the application provided by the applicant will have an impact on the processing time.

    It should be noted that only a few exploitation licences ( 5 currently issued I recall) have been granted in Greenland within the past five years. Accordingly, the average processing times for an application for an exploitation licence are based on a few cases only.

    Instrument (Greenland) Average processing time :

    Prospecting licence 81 days
    Exploration licence 89 days
    Exploitation licence 419 days

    The above processing time for an exploitation licence begins when a complete application is received by the Ministry of Mineral Resources and ends when the Ministry of Mineral Resources has granted the licence or rejected the application. The EIA, SIA, and IBA processes are all included in the average processing time for the exploitation licence.

    Hope that the above is of some assitance?
    Last edited by Alexandria07: 10/08/19
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