Energy Transition Expects Decision by Copenhagen District Court to Not Affect Ongoing Arbitration; Shares Rise 13%
MT Newswires Live
Oct 14
Energy Transition Minerals (ASX:ETM) said the Copenhagen District Court's Oct. 8 decision to consider whether it has territorial jurisdiction over the Greenlandic entities in unit Greenland Minerals' claim is not expected to affect the company's ongoing arbitration, according to a Tuesday filing with the Australian bourse.
The arbitration began in March 2022 after Greenland Minerals was denied an exploitation license at the Kuannersuit (Kvanefjeld) Rare Earths project in Southern Greenland, under Greenland's 2021 Uranium Act.
The parties must provide comments on whether an oral hearing is required, the filing said.
Shares of the company rose 13% in recent Tuesday trade.
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