Saturday, March 18, 2017

Hudson Resources (HUD.v) anorthosite mine at Naajat, Greenland

Hudson Resources (HUD.v) is currently building what will become an anorthosite mine at Naajat, on the south-western coast of Greenland. Though a combination of investments and loans from the European Investment Bank, an EU institution, and Cordiant Capital, Hudson has secured C$40 million to establish, operate and wind down the mine.
Hudson has a 10-year purchase agreement with Owens Corning. The first deliveries are due later this year. Anorthosite (calcium feldspar) is used in the manufacture of ceramics and ceramic glazes and as mild abrasives. The company says the White Mountain project offers the opportunity to supply the fiberglass industry with feed material as a replacement for kaolin. It is also said to have the potential to replace bauxite in the production of alumina.