The time-averaged 30 ks Chandra AO1 High Energy Transmission Grating Spectrometer observation of the microquasar GRS 1915]105 in the low hard state reveals for the Ðrst time in this source neutral K absorption edges from iron, silicon, magnesium, and sulphur. Ionized resonance (r) absorption from H-and He-like species of Fe (XXV, XXVI) and possibly Ca XX are also seen as well as possible emission from neutral Fe Ka and ionized Fe XXV (forbidden or the resonance emission component of a P Cygni proÐle). We report the tentative detection of the Ðrst astrophysical signature of X-ray absorption Ðne structure in the photoelectric edge of Si (and possibly Fe and Mg) attributed to material in grains. The large column densities measured from the neutral edges reveal anomalous Si and Fe abundances and illustrate the importance of high-resolution X-ray measurements for assessing material that surrounds bright X-ray sources, especially if depletion onto grains plays a prominent role. Scenarios for which the anomalous abundances can be attributed to surrounding cold material associated with GRS 1915]105 and/or for which the enrichment may signify either a highly unusual supernova/hypernova or external supernova activity local to the binary are discussed. We attribute the ionized features to a hot disk, disk wind, or corona environment. Based on H-and He-like Fe (XXV, XXVI), we estimate constraints on the ionization parameter temperature (T [ 2.4 ] 106 K), and hydrogen equivalent number (log m Z 4.15), density cm~3) for this region. Variability studies with the simultaneous RXT E data show that (n Z 1012 the light-curve count rate tracks the changes in the disk blackbody as well as the power-law Ñux, with the most signiÐcant variations observed in the former. The Chandra data show spectral changes that also track the behavior of the light curve and may point to changes in both the ionizing Ñux and density of the absorber. A 3.69 Hz quasi-periodic oscillation and weak Ðrst harmonic are seen in the RXT E data.