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Greenland Minerals Limited ( (AU:ETM) ) has provided an update.
Energy Transition Minerals has signed a non-binding memorandum of understanding with commodities trader Traxys Europe for up to 100% of the tin, tantalum and niobium concentrates from its Penouta mine in Spain, which it is in the process of acquiring. The arrangement underscores Penouta’s strategic role as a rare Western source of multiple critical minerals used in electronics, aerospace and defense industries.
Under the MOU, Traxys will have exclusive rights to market, distribute and sell Penouta’s output, with pricing linked to prevailing market levels and subject to ETM’s consent on end-customer sales. The 12-month agreement, which may convert into a six-year binding offtake deal and could involve funding support from Traxys or third parties, aims to bolster ETM’s financing options and secure long-term market access for its critical mineral production.
More about Greenland Minerals Limited
Energy Transition Minerals Ltd is an ASX-listed resources company focused on critical minerals, including tin, tantalum and niobium, with assets such as the Penouta mine in Galicia, Spain. Penouta was recently the European Union’s only direct source of these three metals, positioning ETM as a key potential supplier to Western industrial and defense supply chains.
YTD Price Performance: -26.37%
Average Trading Volume: 6,007,662
Technical Sentiment Signal: Sell
Current Market Cap: A$147.3M
See more data about ETM stock on TipRanks’ Stock Analysis page.