{"id":1150838,"date":"2019-11-20T10:56:34","date_gmt":"2019-11-20T16:56:34","guid":{"rendered":"https:\/\/www.mining.com\/?p=1007247"},"modified":"2019-11-20T10:56:34","modified_gmt":"2019-11-20T16:56:34","slug":"denmark-greenland-inject-over-5m-into-bluejay-mining","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1150838","title":{"rendered":"Denmark, Greenland inject over $5m into Bluejay Mining"},"content":{"rendered":"<p>The governments of Denmark and Greenland became on Wednesday<br \/>\nthe newest shareholders of Bluejay Mining, the London and Frankfurt-listed<br \/>\ncompany developing an ilmenite sands project in north-west Greenland.<\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The company <a href=\"https:\/\/polaris.brighterir.com\/public\/bluejay_mining\/news\/rns\/story\/x435y3w\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">said it had conditionally raised \u00a311.5-million (about $15m)<\/a> through a sale of new shares to investors, including Greenland Venture and Vaekstfonden, the Danish state\u2019s investment fund, which together bought \u00a34 million (roughly $5m) of stock.<\/p>\n<p>Bluejay said it would use the funds to advance the Dundas<br \/>\nilmenite&nbsp;project, in north-west Greenland,&nbsp;towards granting a&nbsp;mining&nbsp;licence<br \/>\nand for the preparation of full development.<\/p>\n<p>It would also be used towards maiden&nbsp;drilling&nbsp;campaigns<br \/>\nat the nickel-copper-platinum-cobalt project at Disko-Nuussuaq&nbsp;and the lead-zinc-<br \/>\nsilver Kangerluarsuk deposit.<\/p>\n<p>Ilmenite is considered the most important ore of titanium, used commercially in the production of paint, adhesives and personal care products such as toothpaste.<\/p>\n<p>\u201cWe are delighted to have received strong support from two important Greenlandic and Danish Government backed institutions,\u201d chief executive Roderick McIllree said. \u201cThis support demonstrates the mutual desire to grow the country\u2019s mineral resource industry and we hope that Bluejay will be that vanguard.\u201d <\/p>\n<p>The company aims to produce between 440,000 and 600,000<br \/>\ntonnes of high purity ilmenite by the end of 2021. It will start the approval<br \/>\nprocess for a mining license in three to five months\u2019 time, it said.<\/p>\n<p>Miners have become increasingly interested in Greenland as <a href=\"https:\/\/www.mining.com\/web\/ice-melts-greenland-become-big-sand-exporter-study\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">thawing sea ice opens up shipping routes and exposes mineral riches<\/a>. The phenomenon, however, has the country\u2019s population divided, with some worried about the loss of traditional life-styles while others embrace development.<\/p>\n<p>Greenland, an autonomous region under the Kingdom of<br \/>\nDenmark, is the world\u2019s largest island. Americans have operated an air base on<br \/>\nthe northwest coast of the island since 1943.<\/p>\n<p>Greenland makes its own decisions regarding investments in mineral resource activities, <a href=\"https:\/\/www.mining.com\/greenland-embraces-mining-rush-but-wont-favour-one-country-alone-prime-minister-43629\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">including the granting of\u00a0licences<\/a>. The region recently issued more exploration and mining\u00a0licences\u00a0in a bid to diversify its economy.<\/p>\n<p>The US government has <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.mining.com\/us-steps-up-efforts-to-limit-chinas-control-of-critical-minerals\/\" >stepped up efforts to ensure the supply of critical minerals<\/a> from outside China. As part of those initiatives, it recently signed a memorandum of understanding with Greenland to conduct a hyper-spectral survey to map the country\u2019s geology.<\/p>\n<p>Washington has also gained the support of Australia,<br \/>\nwhich&nbsp;<a href=\"https:\/\/au.usembassy.gov\/white-house-statement-trump-turnbull-meeting-strengthens-alliance\/\"  rel=\"noreferrer noopener\">has committed to facilitate potential joint ventures<\/a>&nbsp;to<br \/>\nimprove rare earth processing capacity and reduce reliance on Chinese rare<br \/>\nearths.<\/p>\n<p>The mineral agencies of the both countries <a href=\"https:\/\/www.mining.com\/web\/australia-signs-critical-minerals-research-agreement-with-us\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">signed a research agreement on Tuesday<\/a> to quantify their reserves of critical mineral reserves.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In total, the company has raised &pound;11.5-million (about $15m) through a sale of new shares to investors, including Greenland Venture and Vaekstfonden, the Danish state&rsquo;s investment fund.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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