GreenRoc Strategic Materials has received a letter from the Export and Investment Fund of Denmark (EIFO) about possible funding for its Amitsoq graphite project in southern Greenland. EIFO supports projects by guaranteeing bank loans. If approved, the funds will help GreenRoc purchase equipment and services from Danish companies like FLSmidth, finance a feasibility study, and later support mine construction. GreenRoc and EIFO have previously worked with FLSmidth.
GreenRoc is now preparing a detailed financing plan with EIFO, though final approval depends on standard project evaluations. At the same time, GreenRoc is testing new ways to process graphite from Amitsoq using FLSmidth’s advanced flotation technology. This method takes up less space, works faster, and reduces water and energy use.
Governments and public agencies are showing increased interest in the Amitsoq project. GreenRoc’s CEO, Stefan Bernstein, believes this backing will help the company become a key supplier of battery-grade graphite. FLSmidth’s senior VP, Peter Flanagan, highlights the growing global demand for critical minerals needed for the energy transition. EIFO’s commercial chief, Peter Boeskov, warns that graphite shortages could arise by 2030. He says the Amitsoq mine will help meet demand while also supporting Greenland’s economy by creating jobs. The deposit contains an estimated 4.7 million tonnes of graphite, with the potential for more.
Amid renewed interest from former U.S. President Donald Trump in acquiring Greenland, the island’s strategic value has become even more apparent. Greenland’s rich mineral resources, including graphite, are essential for the global energy shift and have attracted increasing international attention. The Amitsoq project, backed by EIFO, represents an effort to develop these resources in a sustainable way. While U.S. officials see control over Greenland as important for security and resource access, Danish leaders have repeatedly stated that the island is not for sale.
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