Episode Details

Exploring and Mining the Virgin Mineral and Gold Resources of Greenland with Eldur Olafsson

Episode 209 Published 4 years, 4 months ago

Description

In this episode, we chat to Eldur Olafsson, Founder, and CEO at AEX Gold, a Greenland-focussed mining company engaged in the identification, acquisition, exploration, and development of gold properties in Greenland.

Eldur has a background in geology. He talks about AEX Gold and what they have been up to recently. Eldur also discusses Greenland as a mining jurisdiction and talks about the companies exploring this under-developed country with huge potential.

KEY TAKEAWAYS

Southern Greenland has a lot of surface minerals and rare earth, as well as a gold belt. The whole country has barely been explored.
Now that demand is high, it is economically viable to explore and mine in Greenland.
$150 million has been invested in civil infrastructure and Greenland is a stable country.
With the right equipment, it is easy to operate year-round in Greenland.
Most of it is barren, so it is relatively easy to mine in an environmentally friendly way.
All of the political parties are highly supportive of mining.
Most of the country is now licensed and is being explored by well-established companies.
Bringing Nalunaq, a high-rate gold mine, back into production is currently AEX Gold´s main project.
Nalunaq has full permits and there are other high-grade minerals there, close to the surface.
In AEX Gold´s other assets they are finding multiple minerals and metals. Including the ones needed for the green revolution.
The island is sparsely populated, so recruiting enough people will be difficult. But many Greenlanders are choosing to train to work in the industry.
The aim is to ensure that when the mines are finished the community continues to benefit e.g., green power sources and re-vegetation of areas.