New MoU signed between NFC of China and Greenland Minerals and Energy

Published By : 07 Apr 2015 | Published By : QYRESEARCH

The Chinese corporation from the Non-Ferrous Metal Industry, Foreign Engineering and Construction Co. Ltd (NFC) has signed its second Memorandum of Understanding (MoU) with Greenland Minerals and Energy. The MoU is signed for the development of Kvanefjeld project in the arctic region of Greenland.

The MoU states the undertakings of both the parties that have been made to facilitate the formalization of strategy for the project. The Chinese corporation NFC is also listed on the Shenzen stock exchange.

The development strategy jointly from both the parties will come to terms formally in a Strategic Co-operation Agreement that both the parties have committed to complete the work in 2015. In the mean while, Greenland Minerals and Energy are drawing close to complete the Feasibility Study of the project. The project is accounted to have huge resources which are over a billion tones and 143 million tones of Measure Resource.

The signing of the Memorandum of Understanding throws light on the completion of twelve months of close working association between the two parties. The MoU reflects the co-operation of close working that existed between NFC while working on several aspect of the Kvanefjeld project.

As per the managing director of Kvanefjeld project, the achievements so far are encouraging and set benchmarks. The achievements provide a solid basis to focus on the developmental strategy, and to negotiate for the strategic cooperation agreement. The fresh MoU further elucidates the support received from NFC by the Greenland Minerals and Energy for the Kvanefjeld project.
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