Praises EU selection of Greenlandic project

Naalakkersuisoq for Raw Materials, Naaja H. Nathanielsen (IA), calls it very positive that the EU has selected GreenRoc’s graphite project to be a so-called strategic project.

On Wednesday it was announced that a project to extract the raw material graphite in South Greenland has been included on a special list by the EU Commission.

Wednesday wasAnnouncement

A total of 14 projects with strategically important raw materials have been included on the list, and the selection of the Greenlandic project is a source of joy in Naalakkersuisut:

– The selection emphasizes Greenland’s growing importance in the mineral sector and increases the visibility of our subsoil, says Naaja H. Nathanielsen (IA), who is naalakkersuisoq for raw materials, in a press release.

According to the EU Commission and the Government of Greenland, inclusion on the list means that the selected projects will have access to coordinated support from the EU Commission, EU member states and financial institutions.

This should give the projects easier access to financing and contacts with potential buyers.

Nathanielsen: Financing and protectionism have been challenges

Access to financing has been a recurring problem, says naalakkersuisoq:

– In recent years, the Government of Greenland has repeatedly emphasized the need to create more attractive financing conditions for projects related to critical minerals. 

EU launches project to mine graphite in Greenland

– 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, says Naaja H. Nathanielsen

She praises the initiative to support special projects:

– The EU Commission’s idea of supporting projects with particularly important minerals shows a willingness to break new ground and is very positive, she says.

The GreenRoc project is located at Amitsoq in South Greenland, and the company is working to extract graphite, which is used, among other things, in the production of batteries for electric cars. The company’s application for a mining permit is currently under consultation.