TIDMGROC
RNS Number : 0232R
GreenRoc Mining PLC
24 October 2023
GreenRoc Mining Plc / EPIC: GROC / Market: AIM / Sector:
Mining
24 October 2023
GreenRoc Mining plc
("GreenRoc" or the "Company")
Statement Re: China Restricting Export of Graphite
GreenRoc Mining Plc (AIM: GROC), a company focused on the
development of critical minerals projects in Greenland, notes the
recent decision by the Chinese government to implement export
restrictions on graphite, a critical component in electric vehicle
batteries.
China's recent announcement to implement restrictions on the
export of higher grade graphite, scheduled to take effect by 1
December 2023, has significant implications for the global battery
industry.
Under the restrictions, Chinese companies must seek special
export permits to supply this crucial raw material to international
battery manufacturers. Notably, the export curbs encompass both
synthetic and natural flake graphite, as well as graphite
concentrate and purified graphite. It is important to emphasise
that these restrictions do not extend to lower grade graphite
intended for conventional applications such as in the manufacturing
of steel.
China, being the dominant force in the global mineral supply
chain, is the foremost graphite producer and exporter, and the
primary source of over 70% of global synthetic graphite production
and approximately 65% of natural flake graphite. Moreover, China
also processes more than 90% of graphite which is used in electric
vehicle (EV) battery anodes.
The extensive use of graphite in lithium-based EV batteries
foretells a significant surge in demand, with forecasts indicating
a quadrupling of requirements within the next decade. In Europe
alone, the demand for battery-grade graphite is estimated to reach
one million tonnes by 2030, equivalent to the entire global
graphite production in the year 2020.
Stefan Bernstein, GreenRoc's CEO, commented : "China's decision
to impose export restrictions on graphite underscores the critical
need to establish secure supply chains by boosting domestic,
non-Chinese production capability, which is less vulnerable to
market shocks and geopolitical events.
"The targeted nature of these export restrictions, focused only
on battery-grade graphite while excluding conventional low-purity
graphite material, should be of concern to everyone engaged in the
energy transition. This selective targeting creates a substantial
risk that ongoing actions to replace internal combustion engine
vehicles with EVs will be slower and more expensive given that
today no EVs can be manufactured without relying on battery grade
graphite from China. Moreover, this move by China will bolster the
competitive advantage of Chinese electric vehicle
manufacturers.
"In response, the rest of the world, including Europe and North
America, must accelerate the development of their own upstream
industries in the critical mineral space. This is not merely an
option but a necessity in order to establish robust supply chains
and release OEMs from undue reliance on China. Such a step would be
pivotal in securing the swift transition to low CO (2) emission
technologies.
"This development is a timely reminder that our plans at
GreenRoc to bring our world-class graphite deposit at Amitsoq in
South Greenland into production in the space of a few years,
alongside the development of a processing plant to produce
anode-ready material for EV battery manufacturers, mean that we are
ideally positioned to play a critical role in Europe and North
America's energy transition.
"The publication of GreenRoc's Amitsoq project's preliminary
economic assessment (PEA) next week represents an important
milestone in the development of Amitsoq and, in the context of
China's export restrictions, could not be timelier. It also
underscores GreenRoc's unwavering commitment to supporting the
advance of sustainable, low-emission technology on a global
scale."
**ENDS**
For further information, please contact:
GreenRoc Mining plc
Stefan Bernstein, CEO +44 20 3950 0724
Cairn Financial Advisers LLP (Nomad)
James Caithie / Sandy Jamieson / Louise
O'Driscoll +44 20 7213 0880
SP Angel (Broker)
Ewan Leggat / Charlie Bouverat +44 20 3470 0500
St Brides Partners Ltd (Financial PR +44 20 7236 1177
& IR) greenroc@stbridespartners.co.uk
Paul Dulieu / Isabel De Salis / Isabelle
Morris
About GreenRoc
GreenRoc Mining plc is an AIM-quoted company which is developing
mining projects in Greenland in critical, high-demand and
high-value minerals.
About Amitsoq
Amitsoq is located i n the Nanortalik region of southern
Greenland and has been confirmed as one of the highest-grade flake
graphite projects in the world.
GreenRoc is focused on fast-tracking the development of Amitsoq
into a producing mine in the shortest possible timeframe to meet
critical demand from Electric Vehicle ('EV') manufacturers in
Europe and North America for new, high grade and conflict-free
sources of graphite.
Key points about Amitsoq:
-- GreenRoc's primary focus at Amitsoq is on developing the
Amitsoq Island Deposit, which has a total inferred, indicated and
measured JORC Resource of 23.05 million tonnes (Mt) at an average
grade of 20.41% Graphitic Carbon ("C(g)"), giving a total graphite
content of 4.71 Mt.
-- Deposits with compliant resources above 20% contained
graphite grade are scarce, with the average global grade of
graphite resources being just 8.45% (according to S&P
Global).
-- Independent micronisation and spheronisation test work has
proven that Amitsoq graphite can be easily upgraded to high-grade
anode-quality graphite, otherwise known as high purity spherical
graphite or cSPG, a key raw material in the manufacturing of
EVs.
-- In GreenRoc's test work programmes, Amitsoq spheronised
graphite has achieved higher than 99.95% purity with relatively
little energy input and processing and using the milder alkaline
purification method compared to the industry standard hydrofluoric
acid, boding well for future production costs and sustainability
commitments.
-- Significant further upside exists at Amitsoq as the Amitsoq
Island Deposit is open in at least two directions with potential
for considerable further expansion via the similarly high-grade
Kalaaq Mainland Deposit as well as a series of other high-grade
targets on GreenRoc's licence package.
-- The deposit was in small-scale production about 100 years
ago, and there remains considerable underground mine development in
place from that time, which will be of considerable benefit to
GreenRoc in the mine construction phase.
-- Following a detailed evaluation process, the European Raw
Materials Alliance has expressed its support of GreenRoc and its
Amitsoq graphite project, stating that "GreenRoc's graphite
resource is of global importance and, together with the Company's
strategy, will enable the European Union to achieve a certain level
of independence for the electrical vehicle supply chain. ERMA has
approved the Amitsoq Graphite project and will engage to support
its development and financing to produce these critical raw
materials for the benefit of the European Union goals." (see RNS
dated 8 February 2023).
-- On 9 October 2023, GreenRoc was awarded a grant of approximately GBP250,000 by the Automotive Transformation Fund in the UK to part-finance a feasibility study into the establishment of a graphite spheronisation processing plant in the UK to produce active anode material from graphite concentrate delivered from GreenRoc's Amitsoq Graphite Project.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
STREAXEDAFADFFA
(END) Dow Jones Newswires
October 24, 2023 02:05 ET (06:05 GMT)
Greenroc Strategic Mater... (LSE:GROC)
過去 株価チャート
から 11 2024 まで 12 2024
Greenroc Strategic Mater... (LSE:GROC)
過去 株価チャート
から 12 2023 まで 12 2024
