PROVIDING LOCAL OPPORTUNITIES
AEX GOLD
156 don ’ t have as many people or the multitude of services that you would have in other countries which encourages you to think creatively ,” he adds .
Consequently , the company has sought to maximise efficiency whilst keeping costs down , yet all the time adding increased value across its operations .
By acquiring a high-grade deposit , less material is needed to be broken down , lowering AEX Gold ’ s carbon footprint . Everything taken out of the mine from underground will be processed and shipped out to a different processing facility , or processed on site adhering to the current environmental guidelines . Historically , electricity has been generated through the use of traditional fossil fuels , something which is steadily changing throughout Greenland .
“ We ’ re using oil to put in generators or to power mobile mining equipment which is high cost both in monetary and environmental terms . Greenland currently has five hydroelectric power plants and they are looking at building more in south Greenland ,” says Olafsson .
Seeing huge opportunities , he explains that the use of hydropower and wind power would complement AEX Gold ’ s operations , not only in its existing exploration activities , but with the implementation of an electric mining fleet with electricity being obtained from local renewable resources .
PROVIDING LOCAL OPPORTUNITIES
In the future , it will be essential for Greenland to gain further revenue to unlock opportunities and services for its citizens . This is something Olafsson believes that AEX Gold can help with due to its knowledge of Iceland as it has many similarities to Greenland and has been
NOVEMBER 2018