Ann: Proposed issue of securities - ETM, page-8

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jefferies2

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27/10/23

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Post #: 70576057
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Originally posted by gafia: ↑

Niels Ole QivstThomas Munk Veirum
SERMITSIAQ.AG, Wednesday, 25 October 2023
Equality and a controversial arbitration case marked question time
Naalakkersuisoq Naaja H. Nathanielsen hopes to be able to announce something more to the public soon about the case of the billion-dollar compensation claim from Energy Transition Minerals, the former Greenland Minerals.
If you look at the law, the Self-Government has a good case in the matter of the mining company's billion-dollar compensation claim.This was the assessment from Naalakkersuisoq, Naaja H. Nathanielsen (IA), when she was on the platform during the weekly question hour in Inatsisartut on Wednesday morning.Here, Nathanielsen was asked by Mariane Paviasen (IA) about the Self-Government's ongoing arbitration case with Energy Transition Minerals. The case has caused a stir and concern among citizens, as Energy Transition Minerals has calculated a compensation claim of a whopping DKK 76 billion. DKKSuch a fierce demand may well cause frowns, but Naaja H. Nathanielsen emphasizes that the Self-Government has a good cause. She also reiterated the wish that the issue should ultimately be decided by a court in this country.
Losses are hypotheticalAccording to Nathanielsen, during a series of citizen meetings in South Greenland, she was asked the question of what if Greenland loses the court case?- It is such a hypothetical question that we will not deal with it yet. If we look at the law, we are in a very good position.- We are looking forward to getting the arbitration further along in the process, so that we can tell more about what will happen, said Naaja H. Nathanielsen.The mining company wants the money as compensation for the fact that it has not received an extraction permit in the Kuannersuit project against the background of the reintroduced ban on uranium extraction.

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Central to the case is not the reintroduction of a ban on the extraction uranium - rather the introduction of Act 20 which set the arbitrary limit of 100ppm uranium in rocks that were being mined for exploitstion of rare earths. Naja should know this!

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