GreenRoc Mining plc has received support from the European Raw Materials Alliance (ERMA), managed by the EIT RawMaterials, for its Amitsoq graphite project in southern Greenland.
INVESTMENT
The consortium aims to secure raw materials and raw material supply chains for Europe to support industrial ecosystems within the European Union.
GreenRoc said it had received a letter from ERMA and EIT RawMaterials, stating Amitsoq to be a resource of “global importance”.
ERMA and EIT RawMaterials have a dedicated investment channel for raw materials projects and have indicated their support for GreenRoc Mining to secure the financing needed for the development of Amitsoq, added the company.
EU SUPPLY CHAIN
The letter of support followed a detailed evaluation process by ERMA and industry technical experts.
GreenRoc also quoted from the letter signed by managing director of EIT RawMaterials Bernd Schäfer and ERMA director Dr Massimo Gasparon.
“GreenRoc’s graphite resource is of global importance and, together with the company’s strategy, will enable the European Union to achieve a certain level of independence for the electrical vehicle supply chain.
“ERMA has approved the Amitsoq graphite project and will engage to support its development and financing to produce these critical raw materials for the benefit of the European Union goals.”
GreenRoc’s chief executive Stefan Bernstein added that ERMA’s support was greatly encouraging.
“We look forward to close collaboration with the team from ERMA as we seek to accelerate the development of Amitsoq towards commercial production for the benefit of our shareholders.”