80 Mile (AIM:80M) has received written guidance from the Greenlandic regulator confirming that no competing licences can be granted over its Jameson Land Basin hydrocarbon concessions in East Greenland, eliminating the risk of overlapping third-party claims across the 2.1-million-acre licence area.
The AIM-listed exploration and development company said the ruling also means any additional mineral licences applied for within the area, covering industrial gases and their derivatives including helium and hydrogen, would vest solely with White Flame Energy A/S, the Jameson licence holder, and therefore fall under 80 Mile's existing joint venture agreement with Nasdaq-listed Greenland Energy Company.
Drilling at Jameson remains on track to start in the second half of 2026, following JV partner Greenland Energy's US$70 million public offering in April, which is funding procurement of long-lead items and field operations; contracts have been secured with Stampede Drilling for an Arctic-capable rig and with Halliburton for integrated well services.
At the separate Disko-Nuussuaq nickel-copper-cobalt-PGE project in West Greenland, drill rigs are now on site and drilling is expected to begin during the first week of July, targeting high-priority geophysical anomalies at Qullissat on Disko Island across approximately 5,000 metres of planned drilling; the programme is fully funded by USFM Corporation under its US$30 million earn-in commitment, with 80 Mile retaining a 49% free-carried interest.
In Italy, the Greenswitch biorefinery in Basilicata is nearing technical completion following roughly £1.6 million of investment over 18 months, with the operations team in advanced commercial discussions over a restart of the 199,000-tonne-per-year permitted biodiesel facility.
"Drilling at the Disko Project is expected to commence shortly and will represent the first systematic drilling programme ever undertaken in the area," said Chief Operating Officer Olga Solovieva.
