Energy Transition Minerals (ASX:ETM) reported that its wholly-owned unit, Greenland Minerals, applied for a stay of the arbitration proceedings against the governments of Greenland and Denmark, which are currently underway in relation to the Kvanefjeld rare earths project in Greenland, as it focuses on simplifying and streamlining the ongoing legal processes, according to a Monday Australian bourse filing.
The unit initiated arbitration in March 2022 against the said governments to have its rights to an exploitation license confirmed.
It is also involved in two court cases filed in Greenland and Denmark, related to its legal entitlement to an exploitation license for the Kvanefjeld project.
To reduce duplication and improve efficiency, the unit is seeking to temporarily pause the arbitration proceedings as well as the Danish court case while the court proceedings in Greenland progress.
Arbitration remains available as a path to the firm should the court processes not fully resolve the dispute, the filing noted.
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