May 21, 2020

AEX Gold – transforming the future of Greenland

Bizclik Editor
2 min
Business Review Australia & Asia's September’s sustainability issue is now live

(Norwich, UK, 6/11/2018)

An area of significant potential, AEX Gold has become the only active gold listed company in Greenland, providing a significant boost to the local economy

Rich in rare-earth minerals, gold, iron-ore, uranium, in addition to hydro and wind power, Greenland’s favourable legal framework and robust infrastructure, particularly in South Greenland, have factored into AEX Gold’s vision to explore its Greenlandic subsidiary, Nalunaq Gold Mine, situated in the Nanortalik Gold belt, Southern Greenland.

Originating from Iceland, Olafsson has gained extensive experience of the local geography. Focusing on mining projects in Greenland since 2012, Olafsson has looked at the company’s environmental impact and all associated legalities with partner SRK. Through this process, the business has turned its attentions solely towards gold exploration.

“We have a total of 690sqkm of licenses in south Greenland. These licenses are where you have a course vein coming to the surface with very high-grade gold. You can rock pick and sample from the surface. It's so under-explored so we hope to start production in the next two years in order to support our exploration in the larger licenses in the next 5-10 years,” he says.

By acquiring a high-grade deposit, less material is needed to break down, lowering AEX Gold’s carbon footprint. Everything taken out of the mine from underground is processed and shipped out to a different processing facility, or processed on site.

“We try to hire local people as much as we can. We are creating revenue for local communities, creating high skilled jobs, and are providing benefits where local communities can live better lives and grow as individuals. We need to create opportunities for young people,” he adds.

To discover the full story, click here to read the magazine.

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