80 Mile confirms receiving formal warning from Greenland government
80 Mile PLC on Wednesday said it now expects drilling at the Jameson Land Basin project in east Greenland to be delayed, following a warning from the local government.
80 Mile shares were down 24% to 0.48 pence each at noon on Wednesday in London.
The exploration and development firm, with assets in Greenland, Finland and Italy said this followed "ongoing engagement with the Greenlandic authorities".
It had been aiming for drilling during the 2026-27 winter season, noting that current guidance by the regulators is for winter 2027 drilling.
"Regarding recent media coverage of equipment being landed on the project area in contravention of existing regulations, 80M confirms that the company has received a formal warning from the government of Greenland concerning the landing of equipment at Nerlerit Inaat airport, near Ittoqqortoormiit in East Greenland," 80 Mile said.
The company said that in 2025, a milestone agreement with March GL, to be renamed Greenland Energy Co, enabled plans for two fully funded 3,500-metre drill holes into the basin.
On Saturday, the Guardian reported that Texas-based Greenland Energy is preparing to sink wells into Greenland without having received permission from Greenlandic authorities.
On July 30, Greenland's Ministry of Trade & Mineral Resources, under the headline '80 Mile PLC has moved camp to Nerlerit Inaat', said: "The licensee has stated that an agreement has been made with Greenland Airport to have the equipment stored at Nerlerit Inaat [Konstabel Pynt]. The materials will not be transported further until the necessary approvals are in place."
The ministry said at the time: "The Department of Industry & Minerals can, in connection with the above, state that the licensee did not have the necessary approvals from the mineral resources authority in place before initiating this operation.
"The Department has assessed the situation in relation to possible restrictions. It would not be proportionate to demand that the equipment be transported back to Tasiilaq, as the immediate situation at Nerlerit Inaat [Konstabel Pynt] is in order.
"A strong warning will be sent to the licensee with a warning that all future logistical matters must be advised and approved by the mineral resources authority – before they are carried out."
80 Mile said Wednesday: "This delay relates to the time required to complete the permitting and regulatory approval process and does not reflect any change to the company's plans for Jameson. 80 Mile remains fully committed to the project and intends to commence drilling as soon as the necessary approvals have been received and the programme can be undertaken safely and responsibly."
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