Arkadian Strategic Metals (AIM:AKN) notes the US-Greenland-Denmark defence and security agreement signed earlier this week (22 September) offers potential infrastructure benefits for the Motzfeldt Critical Metals Project in Greenland.
The Motzfeldt Project is 51%-owned by Arkadian and is considered prospective for niobium, tantalum, zirconium, and rare earths. It is also recognised by the Geological Survey of Denmark and Greenland as one of only five projects in the country classified as a ‘very large deposit’.
The US-Greenland-Denmark agreement strengthens defence and security cooperation in Greenland and the wider Arctic and North Atlantic, including proposed US defence areas at Narsarsuaq, which is close to Motzfeldt.
Narsarsuaq plays a critical role in Arkadian’s field operations. On 2 September, the company reported bulk samples collected from the Aries mineral resource area at the project were transported by helicopter to the US military base for onward shipment for further test work.
Future investment in regional transport and logistics could support Motzfeldt’s development, subject to the scope of investment and arrangements for civilian and commercial access.
Executive Chairman George Frangeskides says infrastructure investment that improves transport and logistics for civilian and commercial users has the potential to support future development at the project, as well as business activity across the region.
“At the same time, local residents and the municipality should have meaningful input as plans develop, with due consideration for existing livelihoods and the environment,” Frangeskides says.
“These same considerations will also continue to guide development at Motzfeldt, where our focus will remain on ensuring a disciplined approach to development supported by technical progress, environmental and social impact assessment, and ongoing engagement with Greenlandic stakeholders.”
Arkadian Strategic Metals is an explorer and developer focused on a diversified portfolio of projects. The company’s projects are considered prospective for gold, graphite, rare earths, and ilmenite in northern Europe.
Write to Aaliyah Rogan at Mining.com.au
Main image: Arkadian Strategic Metals
