Wedoany.com Report-Dec.10, GreenRoc Mining Plc, a London-listed company, has been granted a 30-year exploitation licence by the Government of Greenland for the Amitsoq graphite project in southern Greenland. This is the third mining licence issued by Greenland in 2024, reflecting growing international interest in the island's critical mineral resources.

The Amitsoq deposit, which last operated in 1922, is recognised as one of the highest-grade graphite deposits globally. Once in production, the mine is projected to process 400,000 tonnes of ore annually and deliver around 80,000 tonnes of high-purity graphite concentrate. The graphite is characterised by large flake size and high crystallinity, making it particularly suitable for use in lithium-ion battery anodes for electric vehicles and other advanced applications.

The project has received support from the European Raw Materials Alliance and was awarded Strategic Project status by the European Union in June under the Critical Raw Materials Act. Graphite has been classified as a critical raw material by both the EU and NATO due to its essential role in the energy transition and defence technologies.

"(The) exploitation licence is the result of focused political efforts to make Greenland more attractive for responsible investments, while seriously taking into account the concerns for people and the environment," said Greenland's Minister for Mineral Resources, Naaja Nathanielsen, in an official statement.

GreenRoc CEO Stefan Bernstein commented: "Graphite is an important raw material for the energy transition, and Europe lacks secure access to it."

The licence was formally signed on Monday. The approval marks a further step in Greenland’s efforts to develop its mining sector in a responsible manner while meeting rising global demand for minerals essential to clean energy technologies and strategic industries. The project is expected to contribute to diversifying supply sources for high-quality graphite outside the current concentrated market.