GreenRoc Mining considered for significant financing by US EXIM Bank

GreenRoc Mining shares experienced a 7.8% increase, reaching 1.72 pence each in London trading on Monday afternoon

GreenRoc Mining PLC disclosed on Monday its consideration for financing by the US Export-Import Bank to support its significant ventures in Greenland. As a London-based entity focused on developing critical mineral projects in Greenland, GreenRoc Mining received a letter of interest from the US Export-Import Bank, which has contemplated providing financing of up to USD 3.5 million for US export contracts. The US EXIM Bank serves as the export credit agency for the United States, facilitating the export of US goods and services.

The potential funding would aid in conducting pre-feasibility and definitive feasibility studies for GreenRoc's Amitsoq graphite mine in Southern Greenland, along with the graphite active anode processing plant. Additionally, it could assist in processing large graphite bulk samples by US-based contractors. To secure confirmation of financing from the US EXIM Bank, GreenRoc must submit a specific application. Stefan Bernstein, Chief Executive Officer of GreenRoc Mining, commented that the letter of interest from US EXIM Bank represents a significant vote of confidence for the Amitsoq project from a key financing entity of the US government involved in providing loans and other funding support under the US Inflation Reduction Act to entities like GreenRoc, which are advancing projects aimed at delivering critical raw materials to Western economies. Bernstein also noted the upcoming implementation of the US Inflation Reduction Act's rules of origin concerning graphite, anticipating heightened interest from US industries in securing reliable graphite sources.