GreenRoc Strategic Materials Plc (AIM:GROC) is putting further building blocks in place towards its planned Amitsoq Graphite Mine in South Greenland, and its graphite Active Anode Materials production plant in Norway.
The company has signed a Letter of Intent regarding a 100,000m2 site on the Eyde Material Park in South Norway which can be ready for construction in 2025.
“It is an ideal place for us,” says chief executive Stefan Bernstein. “It's close to the port of Aide which is only five kilometres away. It's opposite Morrow Batteries new Gigafactory, and it's in a place that already has a lot of regulations in place in terms of supporting a battery-related industry and chemical industries.
Stefan also discusses:
- When financing the construction, the plant will be required
- Why Norway’s partnership with the European Union on raw materials and batteries may also assist GreenRoc’s application to become a designated strategic project under the EU Critical Raw Materials Act
- How GreenRoc will become eligible for financial support from EU funds including grants and loans and guarantees
- When Stefan hopes that an exploitation license will be in place as the precursor to the mining permit
Bernstein comments “With the definitive feasibility study hopefully completing in 2026, we can start construction in 2026-27 leading to the mine opening in 2028.”
Reasons to add GROC to your watchlist:
- World class graphite deposit at Amitsoq in Southern Greenland
- Developing a high-margin processing plant for high-quality, stable source of feedstock
- Positive PEA economics for Amitsoq
- Pre-Feasibility Study for Amitsoq due 2024
- Preliminary Feasibility Study for the Anode processing plant illustrates exceptional processing plant economics
- GROC is one of only a handful of European vertically integrated graphite miners also intending to process anode grade graphite for EV’s
- The EU’s Critical Raw Materials Act provides concrete supply chain targets and deadlines with potential funding
Stefan Bernstein, CEO of GreenRoc, was interviewed by Sarah Lowther for focusIR
