(Alliance News) – On Friday, GreenRoc Strategic Minerals PLC announced that it has entered into a non-binding agreement with a supplier of active anode materials.
The London-based mining developer, whose activities are focused in Greenland, did not reveal the name of the company with which the agreement was reached, but described it as “a leading global industrial group specializing in natural graphite-based anode materials”, supplying car manufacturers (OEM) and battery cell manufacturers.
GreenRoc’s shares rose 11% to 4.72 pence on Friday morning in London.
This technology licensing agreement will allow GreenRoc to access the coating technology of the said company, enabling it to process its purified spherical graphite (SPG) products from the Amitsoq deposit. Coating is the final step in the production of active anode materials.
GreenRoc specified that discussions with the partner in question have been ongoing since 2023. The company sees this agreement as “a clear roadmap towards negotiating binding agreements for the technology license grant”.
It plans to finalize “a binding work consignment agreement” under which the Amitsoq SPG will be coated and tested in battery conditions by the partner. These operations will take place in the partner’s facilities and “provide data that GreenRoc can then use to refine its products and attract potential buyers,” GreenRoc stated.
The agreement also defines the payment terms of a binding technology license contract at the end of the testing phase, “which will ensure GreenRoc long-term access to the advanced coating technology of this global producer,” GreenRoc added.
Additionally, GreenRoc announced on Friday that it has unlocked the second installment of a 1.1 million euro loan from the Danish Export and Investment Fund. After this disbursement, there are approximately 3.3 million euros remaining on the loan, which, according to GreenRoc, should cover its work program for 2026, including the third drilling phase and graphite sample processing at its pilot plant in Denmark.
GreenRoc aims to initiate a feasibility study for the Amitsoq mine by the end of the year. The company highlighted that the loan “is neither repayable nor convertible before five years from the first drawdown, i.e., in December 2030”.
By Holly Munks, journalist at Alliance News
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