The Danish Export and Investment Fund is purchasing shares for 100 million kroner in the mining company Amaroq Minerals Ltd. A major capital expansion is underway.
The Danish fund EIFO (Denmark’s Export and Investment Fund) is now increasing its commitment to Amaroq Minerals Ltd.
The Danish FundAnnouncement
EIFO has purchased additional shares for 100 million kroner in the listed mining company, the fund itself announced. EIFO has been an investor in Amaraq since 2019 through a business partnership between the Danish government and the Greenlandic government.
– Greenland is a strategic focus for EIFO, and we want to increase our activity. We see this investment as an important part of our strategy to contribute to the development of strategic minerals and economic growth in Greenland, says Peder Lundquist, CEO of EIFO.
Amaroq Minerals has growing pains
– Amaroq Minerals has shown strong results, and we are pleased to be able to contribute to the company’s continued development.
New activities in West Greenland
EIFO’s strategic investment is part of a larger capital expansion corresponding to a total of 395 million kroner from existing and new investors, including Industriens Pension.
Amaroq is particularly known for its activities in southern Greenland, such as the Nalunaq gold mine near Nanortalik, where the company, with a temporary approval, started certain production activities in 2024. The company has recently acquired several licenses in West Greenland.
The new capital will be used, among other things, to establish a new resource center in West Greenland and accelerate exploration drilling.