REG - GreenRoc Strategic - Amitsoq granted Strategic Project status

GreenRoc Strategic MaterialsAnnouncement

04/06/2025 13:15

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RNS Number : 4527L  GreenRoc Strategic Materials Plc  04 June 2025

GreenRoc Strategic Materials Plc / EPIC: GROC / Market: AIM / Sector: Mining

 

4 June 2025

GreenRoc Strategic Materials Plc

("GreenRoc" or the "Company")

 

Amitsoq granted Strategic Project status by the European Commission

 

 

GreenRoc Strategic Materials Plc (AIM: GROC), a company focused on the
development of critical mineral projects in Greenland, is pleased to note the
announcement made earlier today by the European Commission confirming that the
Company's Amitsoq Project has been granted "Strategic Project" designation
under the EU's Critical Raw Materials Act for both the extraction of graphite
at Amitsoq and for the processing of graphite concentrate into AAM.  This
status could provide benefits for the development of the Project such as
priority in permitting processes and potential financial support.

 

The European Union's Critical Raw Materials Act ("CRMA") is designed to ensure
the EU's access to a secure, sustainable, and diversified supply of critical
raw materials ("CRMs") that are essential for the green and digital
transitions, as well as for defence and space applications. One key component
of this legislation is the identification and support of "Strategic Projects"
related to the extraction, processing, and recycling of CRMs. Strategic
Projects under the CRMA are initiatives that are identified as critical to the
EU's objectives of securing a stable supply of CRMs. These projects can be
located both within the EU and in an Overseas Country and Territory ("OCT"),
provided they contribute significantly to the EU's supply chain resilience.
Greenland is an OCT associated with the European Union (EU).

 

Link to the EU press release:

https://ec.europa.eu/commission/presscorner/detail/en/ip_25_1419
(https://ec.europa.eu/commission/presscorner/detail/en/ip_25_1419)

 

 

GreenRoc's CEO, Stefan Bernstein, commented:

"I am delighted that our application to the EU in August 2024 for the first
deadline of submissions has been successful - it is foremost a recognition of
the merits of our Amitsoq graphite project and its strategic and commercial
importance to the European industry. Amitsoq is the first and to date the only
minerals project in Greenland to achieve Strategic Project status. From the EU
press conference today we understand that Stéphane Séjourné, EU
Commissioner (Executive Vice-President) for Prosperity and Industrial
Strategy, anticipates a visit to our Amitsoq project this year.

 

"We look forward to working with the Government of Greenland and EU
institutions to progress our project and establish true European domestic
production of this strategically important raw material".

 

 

*ENDS** 

 

For further information, please contact:

 

 Investor questions on this announcement         https://greenrocplc.com/s/f795de (https://greenrocplc.com/s/f795de)

 We encourage all investors to share questions

 on this announcement via our investor hub
 GreenRoc Mining plc                             info@greenrocplc.com (mailto:info@greenrocplc.com)

 Stefan Bernstein, CEO                           +44 20 3950 0724

 Cairn Financial Advisers LLP (Nomad)

 Sandy Jamieson / Louise O'Driscoll              +44 20 7213 0880

 Oberon (Broker)                                 +44 20 3179 5300

 Nick Lovering/Adam Pollock

 

 

 

About GreenRoc

GreenRoc Strategic Materials Plc is an AIM-quoted UK public company which is
led by a group of highly experienced mining industry professionals. The
Company is focused on fast-tracking the Amitsoq Graphite Project in Greenland
into a producing mine to meet critical demand from Electric Vehicle ('EV')
manufacturers in Europe and North America for new, high grade and
conflict-free sources of graphite.  Amitsoq is one of the highest-grade
graphite deposits in the world with a combined Measured, Indicated and
Inferred JORC Resource of 23.05 million tonnes (Mt) at an average grade of
20.41% graphite, giving a total graphite content of 4.71 Mt, and significant
further upside beyond this. Test work has proven that Amitsoq graphite can be
readily upgraded to high-grade, anode-quality graphite, with higher than
99.95% purity and relatively little energy input, which bodes well for future
production costs and sustainability commitments.

 

A Preliminary Economic Assessment released on 31 October 2023 gives a post-tax
NPV8 for the Project of US$179M, an IRR of 26.7% and capex estimated at
US$131M (including a 25% contingency).  These figures solely relate to the
economics of a mining and primary processing operation in South Greenland and
do not take into account any potential upside from the downstream processing
operation which GreenRoc intends to establish. A Feasibility Study into the
establishment of a graphite spheronisation processing plant (published in May
and July 2024) shows a post-tax NPV8 for the project of US$621M, an IRR of
26.5% and capex estimated at US$340M (including a 25% contingency).

 

The Company has signed a Letter of Intent to secure an area for the Company's
future Active Anode Materials Plant in Southern Norway and has received
expressions of support from the European Raw Materials Alliance and the US
EXIM Bank for future development. In November 2024, GreenRoc and Morrow
Batteries a/s, a Norwegian Gigafactory signed a MoU to work together on a
regional supply chain of battery anode material and the Company received a
Letter of Interest from the Export and Investment Bank of Denmark (EIFO) in
January 2025.

 

GreenRoc also owns the Thule Black Sands Ilmenite Project ('TBS') in
Greenland, which has an initial Mineral Resource of 19Mt at 43.6% Total Heavy
Minerals with an in-situ ilmenite grade of 8.9%.

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