GreenRoc Mining PLC (AIM:GROC) shares soared over 50% after announcing it secured land at a sustainable industrial park in southern Norway for its planned graphite active anode materials production plant.
The AIM-listed company said it has also applied for 'strategic project' status under the EU's Critical Raw Materials Act and has submitted a project description for the Amitsoq graphite mine in South Greenland to the local government.
With EU application processing to take place in the next few months, the first round of strategic projects is expected to be announced before the end of the year.
If the projects are deemed strategic, this status would give priority in the permitting process and potentially make them eligible for financial support from EU funding programmes.
CEO Stefan Bernstein said: "Becoming a strategic project will not only provide access to the public financing of our work programmes but also enhance our profile and attractiveness to potential offtakers and other strategic partners."
Having sent the project description for Amitsoq to the government of Greenland for final approval the next step is the public consultation, which is expected to take place this autumn.