GreenRoc Mining plc has signed a memorandum of understanding (MoU) to explore civil, mining and/or logistics work and commercial opportunities for the Amitsoq graphite project in southern Greenland.
MINE CONSTRUCTION
The company signed the MoU with construction and mining group Leonhard Nilsen & Sønner A/S (LNS) which is the potential sub-contractor during the construction and operational phases.
LNS is an experienced mine operator in Norway and Greenland as well as in large-scale construction and infrastructure projects including underground mine development, tunnels, ports, roads and airports.
GreenRoc said that both companies had started discussions, focused on a detailed review of the construction and operational requirements for Amitsoq which lies in the Nanortalik region.
A successful outcome will lead towards heads of terms and definitive agreements.
COMMERCIALISATION
The MoU also involves discussions on other possible commercial outcomes, such as debt/equity financing, joint venture and procurement of staff, equipment and services at Amitsoq or GreenRoc’s other projects.
Although the focus is on Amitsoq, discussions may in future cover plans for GreenRoc’s Thule Black Sands ilmenite and Melville Bay iron projects.
PRODUCTION
“This MoU with LNS represents another important step forward for GreenRoc in bringing the Amitsoq graphite project into production,” said GreenRoc chief executive Stefan Bernstein.
“I am particularly looking forward to working with LNS as we explore how we can accelerate Amitsoq to production and make it into a profitable business for both companies and our shareholders, as well as for the people of Greenland.”