- Positive change in Greenland's mining laws became effective on 1 Jan 2024
- Now targeting 1H24 to apply for its Exploitation Licence
- Licence grant now expected before the end of 2024
- Exploration Extension to include the last area of significant graphite mineralisation close to Amitsoq
- This application can also now run in parallel with the EIA studies
- The exploration license for the Melville Bay Iron Project has also been surrended
- This change in Greenland's mining laws reflects the favourable mining jurisdiction
- The company now is expecting its Exploitation Licence to be granted this calendar year
- This will also assist GreenRoc secure development finance
GreenRoc's (GROC) CEO, Stefan Bernstein, commented:
"The changes in the Greenlandic Mineral Law that came into effect on 1 January 2024 are very positive for GreenRoc. The fact that our application for an Exploitation Licence can now run in parallel with the Environmental and Social Impact Assessment studies we are undertaking should significantly shorten the processing time for the Exploitation Licence. It also further illustrates Greenland's commitment to simplifying its mineral administration in order to establish a solid mineral extractive industry in the country."
Greenroc Mining (GROC)