Greenland graphite project advances as Europe races to secure critical minerals

By Elías Thorsson October 23, 2025
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Photo: EIFO and GreenRoc representatives photographed outside the entrance to the mine. The entrance leads into the mine, where old rail tracks from previous operations are still visible. Approximately 50 meters inside, ore samples have been collected.’ From left to right: Anders Knak Sørensen, EIFO, Christopher Østergaard Mortensen, EIFO, Jens Hestbech, EIFO, Lars Brünner, GreenRoc, Non-Executive Director and Chairman of the ESG Committee and Stefan Bernstein, GreenRoc CEO

Europe’s push to shore up supplies of critical minerals took a step forward with new financing for the restart of the Amitsoq graphite mine in southern Greenland. The mine, which is described by its backers as one of the highest-grade graphite deposits, would supply material essential for battery anodes and some defense applications at a time when China dominates both mining and nearly all processing. The Amitsoq graphite mine was last in production from 1915 to 1922, the relatively short period reflecting the fact that the know-how regarding the separation of graphite flakes had yet to be developed at the time.

Peter Boeskov, CCO at EIFO, said in a press release that GreenRoc was taking the next crucial steps toward being able to contribute to the supply of indispensable raw materials for Europe’s green transition and defence industry.

“The project aligns very closely with EIFO’s strategic ambitions to support viable and impactful projects in Greenland, while also reinforcing business activities that contribute to the security of supply of critical minerals in Europe. We are equally committed to supporting the green transition, which is highly dependent on stable and secure value chains for critical raw materials like graphite,” said Peter Boeskov.

Denmark’s state export and investment fund (EIFO) has extended a €5.2 million (USD 5.6 million) convertible loan to GreenRoc Strategic Materials to redevelop the site near Nanortalik. Plans call for mining roughly 400,000 tonnes of ore per year to produce about 80,000 tonnes of graphite concentrate, with a JORC-compliant resource of around 23 million tonnes grading above 20 percent—enough for roughly two decades of output under current assumptions.

Graphite is listed as a critical raw material by the EU and NATO because it underpins electric-vehicle and energy-storage supply chains as well as select military uses. Supporters say Greenland could play a growing role in diversifying Europe’s inputs away from single-country dependence. GreenRoc also aims to upgrade concentrate into higher-value products such as active anode material and flexible graphite.