The fact that the European Commission has designated GreenRoc’s graphite project as one of the 13 strategic projects means that the company now has access to financial institutions and buyers. “This is crucial in the long term,” says CEO Stefan Bernstein.

The European Commission has designated GreenRoc Strategic Materials’ graphite project in South Greenland as one of 13 so-called strategic raw materials projects that will ensure better supply chains of critical raw materials to the EU. 

The European Commission has appointed

In addition to the mine in Amitsoq, GreenRoc’s project also includes the establishment of a processing plant in Norway for processing the graphite. 

The European Commission has designated GreenRoc Strategic Materials’ graphite project in South Greenland as one of 13 so-called strategic raw materials projects that will ensure better supply chains of critical raw materials to the EU. 

The European Commission has appointedAnnouncement

In addition to the mine in Amitsoq, GreenRoc’s project also includes the establishment of a processing plant in Norway for processing the graphite. 

Financing advice 

Being designated as a strategic mineral resource project does not mean that EU officials are now going to roll up their sleeves and launch into operating a mineral resource project in Amitsoq. 

It also does not mean that the EU is investing money in the specific project here and now. 

What GreenRoc, on the other hand, gets out of being designated as a strategic project by the EU is contacts with potential financial institutions and companies that can purchase the graphite, and that has great significance in the long run, says Stefan Bernstein, director of GreenRoc Strategic Materials. 

– Being designated as a strategic project is a seal of quality, as our project has gone through an extensive application process and expert assessment. The EU must of course ensure that it is a credible project that can deliver a certain amount of raw materials in a documented environmentally sound manner. The designation opens the way for the EU to now advise us on financing and facilitate meetings between us and potential investors and buyers, says Stefan Bernstein. 

Investor inertia 

GreenRoc has already been invited to the first meeting of the EU Commission on the different types of financing that could be a possibility for the project. 

– But it is important to say that the EU does not initially contribute with money. They contribute with contacts and knowledge, because they are well aware that these raw material projects will not come to fruition on political statements alone, says Stefan Bernstein.

He has previously expressed to Sermitsiaq the sluggishness of investors, despite the obvious political desire to develop expertise in this area if the EU wants to free itself from Chinese dominance. Get the right people talking The EU Commission draws on both its own and member states’ networks for financing and buyers.

– The EU has an enormous importance as a facilitator. Because as a company we don’t have any production yet, so when we approach some of the big players in the market, for example a European car manufacturer, we don’t necessarily get to talk to the right people in the company. But if the EU mediates the contact, it’s the top management that you get to talk to. 

The government is positive

 According to the Government of Greenland, the designation of the GreenRoc project is a natural extension of the strategic partnership that Greenland entered into with the EU Commission in 2023. 

“The selection emphasizes Greenland’s growing importance in the mineral sector and increases the visibility of our subsoil. In recent years, Naalakkersuisut has repeatedly emphasized the need to create more attractive financing conditions for projects concerning critical minerals. There are many good projects, but globally, financing has been a challenge, just as protectionism and market dominance have made the road extra long for several of the projects. The EU Commission’s idea of supporting projects with particularly important minerals shows a willingness to break new ground and is very positive”, said a press release from Naalakkersuisoq for Business, Minerals, Energy, the Justice Sector and Gender Equality, Naaja H. Nathanielsen. 

Political support for the project

 For Stefan Bernstein, the support from the Government of Greenland is of great importance. 

– The Self-Government and the Greenlandic Government have been very active in the process in relation to the EU, and they continue to be. I experience that there is great interest in engaging and implementing some of the initiatives, and that there is political agreement that they would like to have a responsible mineral industry in Greenland. This means that we have strong support from the Self-Government and the Greenlandic Government, says Stefan Bernstein, adding that if everything goes according to plan, the company expects to enter the construction phase in 2027 and open the mine in Amitsoq for graphite production in 2029. 

The GreenRoc project aims to extract graphite, which is used, among other things, in the production of batteries for electric cars. GreenRoc (which also has the Greenlandic subsidiary Greenland Graphite) has just submitted their application for a exploitation permit for public consultation until June 27.

The GreenRoc project aims to extract graphite, which is used, among other things, in the production of batteries for electric cars. GreenRoc (which also has the Greenlandic subsidiary Greenland Graphite) has just submitted their application for a exploitation permit for public consultation until June 27th.

The European Commission has designated GreenRoc Strategic Materials’ graphite project in South Greenland as one of 13 so-called strategic raw materials projects that will ensure better supply chains of critical raw materials to the EU. 

The European Commission has appointed

In addition to the mine in Amitsoq, GreenRoc’s project also includes the establishment of a processing plant in Norway for processing the graphite. 

The European Commission has designated GreenRoc Strategic Materials’ graphite project in South Greenland as one of 13 so-called strategic raw materials projects that will ensure better supply chains of critical raw materials to the EU. 

The European Commission has appointedAnnouncement

In addition to the mine in Amitsoq, GreenRoc’s project also includes the establishment of a processing plant in Norway for processing the graphite. 

Financing advice 

Being designated as a strategic mineral resource project does not mean that EU officials are now going to roll up their sleeves and launch into operating a mineral resource project in Amitsoq. 

It also does not mean that the EU is investing money in the specific project here and now. 

What GreenRoc, on the other hand, gets out of being designated as a strategic project by the EU is contacts with potential financial institutions and companies that can purchase the graphite, and that has great significance in the long run, says Stefan Bernstein, director of GreenRoc Strategic Materials. 

– Being designated as a strategic project is a seal of quality, as our project has gone through an extensive application process and expert assessment. The EU must of course ensure that it is a credible project that can deliver a certain amount of raw materials in a documented environmentally sound manner. The designation opens the way for the EU to now advise us on financing and facilitate meetings between us and potential investors and buyers, says Stefan Bernstein. 

Investor inertia 

GreenRoc has already been invited to the first meeting of the EU Commission on the different types of financing that could be a possibility for the project. 

– But it is important to say that the EU does not initially contribute with money. They contribute with contacts and knowledge, because they are well aware that these raw material projects will not come to fruition on political statements alone, says Stefan Bernstein.

He has previously expressed to Sermitsiaq the sluggishness of investors, despite the obvious political desire to develop expertise in this area if the EU wants to free itself from Chinese dominance. Get the right people talking The EU Commission draws on both its own and member states’ networks for financing and buyers.

– The EU has an enormous importance as a facilitator. Because as a company we don’t have any production yet, so when we approach some of the big players in the market, for example a European car manufacturer, we don’t necessarily get to talk to the right people in the company. But if the EU mediates the contact, it’s the top management that you get to talk to. 

The government is positive

 According to the Government of Greenland, the designation of the GreenRoc project is a natural extension of the strategic partnership that Greenland entered into with the EU Commission in 2023. 

“The selection emphasizes Greenland’s growing importance in the mineral sector and increases the visibility of our subsoil. In recent years, Naalakkersuisut has repeatedly emphasized the need to create more attractive financing conditions for projects concerning critical minerals. There are many good projects, but globally, financing has been a challenge, just as protectionism and market dominance have made the road extra long for several of the projects. The EU Commission’s idea of supporting projects with particularly important minerals shows a willingness to break new ground and is very positive”, said a press release from Naalakkersuisoq for Business, Minerals, Energy, the Justice Sector and Equality, Naaja H. Nathanielsen. 

Political support for the project

 For Stefan Bernstein, the support from the Government of Greenland is of great importance. 

– The Self-Government and the Greenlandic Government have been very active in the process in relation to the EU, and they continue to be. I experience that there is great interest in engaging and implementing some of the initiatives, and that there is political agreement that they would like to have a responsible mineral industry in Greenland. This means that we have strong support from the Self-Government and the Greenlandic Government, says Stefan Bernstein, adding that if everything goes according to plan, the company expects to enter the construction phase in 2027 and open the mine in Amitsoq for graphite production in 2029. 

The GreenRoc project aims to extract graphite, which is used, among other things, in the production of batteries for electric cars. GreenRoc (which also has the Greenlandic subsidiary Greenland Graphite) has just submitted their application for a exploitation permit for public consultation until June 27.

The GreenRoc project aims to extract graphite, which is used, among other things, in the production of batteries for electric cars. GreenRoc (which also has the Greenlandic subsidiary Greenland Graphite) has just submitted their application for a exploitation permit for public consultation until June 27th.