TGX
Major activities in Greenland
The construction phase for Rubin project in Greenland enters the hectic
final stage. Opencast operation is barely underway and installation
oppredningsutstyret is underway.
A harsh winter last year and early start to winter this year has made the scheduled start
Rubin project is delayed by several months.The has unfortunately caused us both
additional costs and offset earnings, which have been and are stressful, says
Executive Chairman of LNS Greenland, Gunnar Moe.
There are now many things that are about to fall into place. The camp is finished,
workshop building is finished, process building has been completed and work on the installation of
process equipment is startet.I addition to this LNS Greenland started trial operation in
open pit. There is a relatively large area uncovered and 5 grbergssalver is gone.
Which makes it very soon ready to take out the ore one needs to
Break processing.
Here we see the planned open pit at the forefront, the moment there is waste rock work
then process and workshop building and longs performed in open pit. Although there has been much
away the camp, with space for 60 men. cold has fortunately been little snowfall so far
It is also built 8 km distance from the harbor, this year.
through camp, process area to piten.
There is no final decision on when regular operation is to be initiated, but it
hinted April / May, continues Moe.
LNS has been responsible for significant investments in infrastructure in this Rubin project and
will also be responsible for the operation when it arrives in time. Today there are some thirty people
who are employed for LNS in Aapalutoqgruven west Greenland. It is calculated that the number will
be slightly lower when one enters a regular operation.
Basically see an idea that the mining operations will continue for eight months of the year. The
involves standstill from November to February, which the company believes it now.
It is the Greenlandic company True North Gems Greenland (TNGG) having
rights to operate what is currently believed to be the world's largest deposit of
rubies bedrock. TNGG owned by the Canadian listed company True North Gems
(TNG, 67%), LNS (27%) and Greenland Venture (6%). LNS also owns 10% of TNGG.
The part of the deposit which is now mapped and known and that it initiated operations on
now, scheduled to to be in operation for 9 years. It's LNS Greenland to oversee operations
Throughout this period of operation.
There is much to suggest that the incidence is significantly larger than what one knows today. On
Against this background it will be carried further core drilling this summer.
The planning of open pit carried out by the planning department to Rana Gruber AS.
Signed contract for rubies to 21 million
dollars over 3 years
By Gunnar Moe, LNS Greenland
The agreement on deliveries to the company Bangkokbaserte
China Tone represents a new milestone in the development of
mining in Greenland. China Tone is a world leader in
cutting and polishing gems, and also producer of
jewelry and watches to markets across the globe.
It is very easy to see the rubies in the ore. Photo: Peter Madsen
The contract commits TNG to deliver rrubiner for
minimum seven million dollar (well over 60 million Norwegian
million) to China Tone per year. This is the very first
salsgkontrakte concluded, but there are indications that it will
get more shortly. It is recognition for TNG and a
new milestone in the effort to bring our rubies out of the market,
says Nicholas Houghton, CEO of TNG in a
press release.
He adds that he looks forward to working with China Tone on
development of the international market for rubies and pink
sapphires.
The stones from the mine in Aappaluttoq shall all be equipped with
authenticity certificate showing place of origin, and to
guarantee that these are "pure" precious stones, and can not
comparable to so-called "blood-diamonds". This makes the rubies
and sapphires from Greenland entirely unique.
The mine in Aappaluttoq southern Greenland, is believed to be the world
largest (known) the occurrence of rubies, and it is suggested a lifetime
in nine years for the known occurrence.