GreenRoc Mining plc said it had received a letter of intent for up to US$3.5 million from the Export-Import Bank of the United States.
APPLICATION
Valid until 14 April 2025, the LoI shows the US EXIM Bank’s willingness to consider financing GreenRoc for US export contracts relating to goods and services ordered by the company.
Chief executive Stefan Bernstein added that the company expected to submit an application to US EXIM Bank “in the near future” for its Amitsoq graphite project in southern Greenland.
Contracts could relate to pre- or definitive feasibility studies for the mine, a DFS of the graphite active anode processing plant and the processing of large graphite bulk samples by US-based contractors.
Any application is subject to US EXIM Bank’s due diligence.
Mr Bernstein said that, with the 2022 US Inflation Reduction Act (IRA)’s rules of origin in relation to graphite, GreenRoc expected increased interest from US industries in securing friendly sources of graphite.
US EXIM is the official export credit agency of the United States and an “independent executive branch agency which facilitates the export of US goods and services”.