Greenland Government Grants Exploitation Licence for Amitsoq

GreenRoc Strategic Materials Plc (AIM: GROC), a company focused on the development of critical mineral projects in Greenland, is delighted to announce that the Government of Greenland has granted an Exploitation Licence for the Amitsoq Graphite Project to Greenland Graphite a/s (‘Greenland Graphite’), a wholly owned, Greenland registered subsidiary of GreenRoc.

On 8 December 2025, the Minister of Business, Mineral Resources, Energy, Justice and Gender Equality Naaja H. Nathanielsen, together with Stefan Bernstein, Director of Greenland Graphite, signed a 30-year exploitation permit for graphite at Piiaaffik Amitsoq, the placename for the Amitsoq graphite deposit. This follows the Government of Greenland’s approval, on 4 December 2025, of the Amitsoq project Terms of Reference and associated White Paper.

The Minister of Business, Mineral Resources, Energy, Justice and Gender Equality, Naaja H. Nathanielsen, said at the signing ceremony:

‘Greenland Graphite’s exploitation licence is the third exploitation licence granted by the Government of Greenland this year. This is a very positive record and it is particularly worth noting that the process from submitted application to issued exploitation licence has only taken 1 year and 3 months. This is significantly faster than in many other countries and clearly demonstrates that the revised Mining Act is working as intended. The aim was to streamline the procedure without compromising high environmental standards, safety and social responsibility. Today’s exploitation licence is the result of focused political efforts to make Greenland more attractive for responsible investments, while seriously taking into account the concerns for people and the environment.’

CEO of GreenRoc, Stefan Bernstein, said at the signing ceremony:

‘It is a great pleasure for me today, on behalf of our Company, to confirm the grant of the Exploitation Licence for graphite at Amitsoq. This is a very important milestone for GreenRoc on the road to making graphite production in Greenland a reality again, 100 years after the closure of the Amitsoq mine.

‘Graphite is an important raw material for the energy transition and Europe lacks secure access to it. At Amitsoq, we have proven graphite ore for many decades of operation. At the same time, we are very aware that extraction from Amitsoq must benefit Greenland, and especially the communities in South Greenland, and we look forward to listening to and cooperating with the citizens of South Greenland along the way.

‘It is gratifying that the Government of Greenland is contributing to making Greenland an attractive place to invest in raw materials projects. In a world where political approval of a mining project can drag on for decades, Greenland really stands out, without compromising on environmental and social requirements, and this Exploitation Licence is an excellent expression of that.’

Minister of Industry, Mineral Resources, Energy, Justice and Gender Equality, Naaja H. Nathanielsen, and GreenRoc’s CEO Stefan Bernstein at the signing ceremony in Nuuk

Next steps

Greenland Graphite a/s has chosen that its project terms of reference should be submitted for public consultation only, without the project descriptions for Environmental Impact Assessment (EIA Report) and Social Impact Assessment (SIA Report). The Exploitation Licence is the political approval of the mining project at Amitsoq. Before construction and mining activities can commence, an Impact Benefit Agreement and Mine- and Closure Plan must be approved.

Greenland Graphite is in the process of preparing the project descriptions for the EIA report and SIA report. Following the approval of the EIA and SIA reports by the Government of Greenland, Greenland Graphite will have until 31 December 2028 to submit a mining and decommissioning plan and must commence mining activities by 31 December 2030, unless otherwise approved.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

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Forward Looking Statements

This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the timing and granting of regulatory and other third party consents and approvals, uncertainties regarding the Company’s or any third party’s ability to execute and implement future plans, and the occurrence of unexpected events.

Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.

About GreenRoc

GreenRoc Strategic Materials Plc is an AIM-quoted UK public company focused on developing the Amitsoq Graphite Project in Greenland into a producing mine to meet critical demand from Electric Vehicle (‘EV’) manufacturers in Europe and North America for new, high grade and conflict-free sources of graphite. Amitsoq is one of the highest-grade graphite deposits in the world with a combined Measured, Indicated and Inferred JORC Resource of 23.05 million tonnes (Mt) at an average grade of 20.41% graphite, sufficient to sustain several decades of mining.

The plans for the Amitsoq Project include the construction of a facility to further process the mined graphite into active anode material – an indispensable component of Li-batteries – which plans have independently and positively evaluated to prefeasibility study stage.

GreenRoc has entered into a partnership with the Norwegian battery manufacturer Morrow Batteries to establish a regional supply chain. The Amitsoq Project has been designated a Strategic Project by the EU and in March 2025 it was also ESG-certified by Digbee, an independent platform which provides sustainability assessments for the mining industry. In October 2025, GreenRoc signed a binding secured loan facility for EUR 5.2 million from the Export and Investment Fund of Denmark (‘EIFO‘), for the financing of the Company’s work programme.

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