Energy Transition Minerals Says Arbitration Tribunal Refers Unit's Claims Regarding Greenland Project Exploration License to Courts

MT Newswires Live10-29

Energy Transition Minerals (ASX:ETM) said an Arbitration Tribunal referred its wholly-owned unit Greenland Minerals' claims concerning confirmation of the right to an exploitation license for the Kvanefjeld (Kuannersuit) project in Greenland for determination by the courts instead of the arbitration, according to a Wednesday Australian bourse filing.

The tribunal also decided that the government of Denmark should not be a party to the case, the firm's managing director, Daniel Mamadou, said. Greenland Minerals had initiated arbitration against the governments of Greenland and Denmark under an arbitration agreement under the exploration license in March 2022.

Greenland Minerals' claims concerning contract breach and damages may still be subject to arbitration, and the arbitration will be stayed pending the outcome of the court proceedings.

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