Eclipse Metals Ltd (ASX:EPM) has taken another big step to grow its presence and influence in Europe by being accepted as a member of the European Raw Materials Alliance (ERMA) partner network.
The ERMA aims to improve the EU’s resilience to access critical raw materials which Eclipse is striving to support through its Ivigtût rare earths and polymetallic project in southwest Greenland. Acceptance to the partner network aligns with the company’s strategy to engage with and garner support from European stakeholders.
“A strategic asset”
Eclipse Metals executive chairman Carl Popal said: “We consider our Ivigtût project in Greenland to be a strategic asset as it aligns with ERMA’s objectives to diversify critical raw material supply chains. ”The project hosts rare earth elements, base metals and industrial materials such as high-purity quartz and offers an important development opportunity. “The increasing demand in Europe for sustainable supply of rare earth-bearing minerals and critical raw materials provides the company with an excellent opportunity to engage with European stakeholders,” Popal said.
This comes “as we work towards unlocking the untapped potential that this historic mining project still holds together with the Grønnedal carbonatite, nepheline Syenite REE complex which we are currently exploring and developing.”
Strengthening engagement in Europe
Joining the ERMA is the latest step for Eclipse Metals as it strengthens its engagement with European stakeholders after recently beginning trading on the Frankfurt and Tradegate exchanges in Germany and engaging a European-based investor relations and corporate advisor.
Membership will allow the company to participate in ERMA’s development strategy for critical minerals and metals.
About ERMA
Formed in 2020, the ERMA aims to make Europe economically more resilient by diversifying its supply chains, creating jobs, attracting investments to the raw materials value chain, fostering innovation, training young talent and contributing to the best enabling framework for raw materials and the circular economy worldwide. It covers the full range of elements and minerals required by Europe’s green and digital transitions, from critical raw materials to base metals and industrial minerals.
ERMA has provided support to other mining projects in Greenland including support in securing finance for Greenland Resources’ Malmbjerg Molybdenum Project and development support for Bluejay Mining Plc’s Dundas Ilmenite Project, where feasibility studies are underway.
Major mining companies including Rio Tinto, Anglo American and Lynas Corporation (ASX:LYC) are also part of ERMA’s partner network, along with many exploration and development companies.
Work in Greenland
In Greenland, Eclipse Metals recently completed its maiden percussion drilling and trench sampling program at Ivigtût and the Grønnedal carbonatite complex.
Laboratory results from this work are expected during the second quarter of 2023. The company has also started work on Social and Environmental Impact Assessments for the project as part of an application for a mining licence with the initial phase of the assessments nearing completion.
This work is being conducted by Eclipse and Danish consultancy COWI for submission to the Greenlandic mining authority, MLSA.
Eclipse’s vision for Ivigtût is to understand and harness the unique geology of the area and rejuvenate the historical mine site; targeting the project’s polymetallic and REE mineralisation to supply industrial and critical minerals to global markets. It says that being part of the ERMA network will be beneficial throughout all stages of exploration and mining in the area.
Source: proactive
