GreenRoc Strategic Materials PLC on Friday revealed its Amitsoq exploitation licence has been approved as it progresses further with the project.
The Greenland-focused critical mineral project developer said its licence application for its Amitsoq graphite project fulfilled the necessary submission requirements and was given the green light by Greenland’s government.
The firm submitted its licence application in September, which has since been undergoing assessment by Greenland’s Mineral Licence and Safety Authority.
Shares in GreenRoc rose 11% to 1.50 pence on Friday morning in London.
GreenRoc revealed that the MLSA has sent its mineral resource evaluation announced in January last year for a compliance assessment by a third party, adding that the next steps for its application, pending approval from said party, is an MLSA recommendation to the government of Greenland.
This recommendation will discuss whether to approve the project terms of reference for public pre-consultation.
The firm added that is going to be attending key industry events, noting an invitation from Detroit, US-based General Motors Co to participate in a trade mission at its headquarters next week as part of a delegation of 20 UK companies organised by the UK Department of Business & Trade.
GreenRoc Chief Executive Stefan Bernstein said: ‘I am very pleased that our application for an exploitation licence at Amitsoq is now being processed and that the government has found our company to be eligible for the licence, pending the outcome of the public pre-consultation and the associated process.
‘Alongside these positive operational developments, I am pleased to report on the progress we continue to make in connecting our project with industry leaders and potential commercial partners. Our GreenRoc team will travel to the US to meet with GM in November 2024.
‘GreenRoc was specifically picked by GM to be part of the Department of Business & Trade’s trade mission, which is a great honour and testament to our world-class project.’
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