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Greenland has authorised GreenRoc Strategic Supplies’ (LSE:GROC) software for a long-term exploitation license for the Amitsoq graphite challenge.
Mineral Assets and Power Minister Naaja H. Nathanielsen joined Greenland Graphite director Stefan Bernstein in a license signing on Monday (December 8), which adopted authorities approval on December 4 of the challenge’s Phrases of Reference and accompanying white paper.
“Greenland Graphite’s exploitation license is the third exploitation license granted by the Authorities of Greenland this yr,” Nathanielsen stated on the ceremony. “It is a very optimistic report and it’s significantly value noting that the method from submitted software to issued exploitation license has solely taken 1 yr and three months.”
She added that the streamlined timeline clearly demonstrates that the revised Mining Act is working as supposed, whereas nonetheless upholding environmental requirements and social duty.
Bernstein stated the day marked an vital breakthrough for the corporate’s ambitions to assist provide graphite for the power transition.
“It is a crucial milestone for GreenRoc on the highway to creating graphite manufacturing in Greenland a actuality once more, 100 years after the closure of the Amitsoq mine.”
Graphite, a essential element of lithium-ion battery anodes, is taken into account a strategic mineral by the European Union. Bernstein emphasised that the challenge may contribute to a safer provide chain for Europe and North America. “
Graphite is a vital uncooked materials for the power transition and Europe lacks safe entry to it. At Amitsoq, we now have confirmed graphite ore for a lot of many years of operation,” he stated.
The Amitsoq deposit has a mixed measured, indicated and inferred JORC useful resource of 23.05 million tonnes at a mean grade of 20.41 % graphite, in keeping with GreenRoc, putting it among the many highest-grade identified deposits globally.
The challenge is being developed alongside plans to construct downstream processing capability for energetic anode materials, supported by a partnership with Norwegian battery producer Morrow Batteries.
The license permits for as much as 30 years of mining however doesn’t instantly authorize building.
Earlier than work on website can start, the challenge’s Environmental Impression Evaluation (EIA) and Social Impression Evaluation (SIA) should be accomplished and authorised, adopted by negotiation of an Impression Profit Settlement and a mine closure plan.
Mining should start by December 31, 2030, until in any other case authorised.
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Securities Disclosure: I, Giann Liguid, maintain no direct funding curiosity in any firm talked about on this article.
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