Greenland Minerals Limited (AU:ETM) has released an update.
Greenland Minerals Limited’s subsidiary, GMAS, has initiated legal and arbitration proceedings against the governments of Greenland and Denmark regarding the Kvanefjeld Rare Earth Element Project, following refusal of exploitation license applications. GMAS seeks to confirm its right to an exploitation license, challenge the applicability of the Uranium Act to the project, and secure compensation for financial losses incurred due to project delays. The company has also requested a stay in court proceedings while arbitration is pending, to reduce costs and procedural inefficiencies.
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