Uranium ban repeal in Greenland could revive massive rare earth project, licence holder says
Kvanefjeld is among the world's top three rare earth deposits outside China, capable of supplying up to 15% of global production.
Demand for rare earth metals is likely to continue growing at double digit annual rates for the foreseeable future but, the supply side does not look quite as rosy.
According to Molycorp CEO, Mark Smith, while a lot of production has been forecast from a number of small producers, very little of it is likely to come on stream in five years.