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GreenRoc Strategic Materials PLC on Wednesday celebrated a designation by the European Commission under the EU’s Critical Raw Materials act. Shares in the company jumped 42% to 3.63 pence each on Wednesday afternoon in London. The Greenland-focused critical mineral project developer said its Amitsoq project in southern Greenland has been granted a ‘strategic project’ designation by the EU for the extraction of graphite and for the processing of graphite concentrate into active anode material, known as AAM. GreenRoc had submitted its application to the EU in August 2024. GreenRoc Chief Executive Officer Stefan Bernstein said: ‘Amitsoq is the first and to date the only minerals project in Greenland to achieve Strategic Project status. From the EU press conference today we understand that Stephane Sejourne, EU commissioner [executive vice-president] for Prosperity & Industrial Strategy, anticipates a visit to our Amitsoq project this year. ’We look forward to working with the government of Greenland and EU institutions to progress our project and establish true European domestic production of this strategically important raw material‘. On Monday, the company announced it completed a subscription to raise £450,000 via the issue of 18.0 million new shares at 2.5 pence each. The proceeds will be used as general working capital for business development, in particular relating to collecting a bulk sample of around 10 to 20 tonnes of graphite ore from underground workings of the historical Amitsoq mine. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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