GreenRoc Strategic Materials PLC (AIM: GROC) jumped as much as 14% in early trading after securing a long-awaited exploitation licence for its Amitsoq graphite project in southern Greenland — a milestone that allows the company to advance from exploration to mining.
The 30-year permit was signed on 8 December by Greenland’s business and mineral resources minister, Naaja H. Nathanielsen, and Stefan Bernstein, director of Greenland Graphite, GreenRoc’s local subsidiary. The approval follows the government’s earlier sign-off of the project’s Terms of Reference and White Paper.
Nathanielsen emphasised that the licensing process had been completed “significantly faster than in many other countries,” saying it demonstrated that Greenland’s revised Mining Act “is working as intended” without compromising “high environmental standards, safety and social responsibility.”
Bernstein — who also serves as GreenRoc’s CEO — described the licence as “a very important milestone,” highlighting graphite’s role as a critical material for the energy transition at a time when Europe is seeking more secure supply chains. He added that future development must deliver benefits to Greenland and its communities, noting that the efficient permitting process showed the country “really stands out” on the global stage.
