The following article Sermitsiaq AG., 27 December 2023.Uranus...

The following article Sermitsiaq AG., 27 December 2023.

Uranus dispute:
Lawyers cost millions
The dispute between the Self-Government and the Australian mining company, which was prevented from extracting rare earth species in South Greenland, has so far cost the Self-Government over 10,000 kroner a day for external lawyers.
Mads Nissen/Ritzau Scanpix Jørgen Schultz-Nielsen Wednesday, 27 December 2023 - 08:08
NOTE: It appeared from the article that the cost was DKK 25,000 per day.It is legitimately DKK 10,000 per day.We apologize for the error.
The pending arbitration between Energy Transition Minerals Ltd.(formerly Greenland Minerals) costs not only internal forces at the Self-Government, but also costs for external lawyers who assist the Self-Government.- The department can state that from 24 March 2022 to 24 November 2023 the Self-Government has spent DKK 6,211,097.49 on external lawyers in connection with the arbitration case, lawyer Bo Simmelsgaard from the Ministry of Natural Resources and Justice informs Sermitsiaq.AG,who had submitted a document access request.The amount corresponds to an average cost of just over DKK 10,000 per day in the calculated period. Barely started
The arbitration case, in which Energy Transition Minerals (formerly Greenland Minerals A/S, ed.) has demanded 11.5 billion dollars (just under 80 billion kroner), including interest in damages, has barely started, as the Self-Government has disputed the jurisdiction of the arbitration court andbelieves that the dispute should be dealt with by the Greenlandic courts. Just before Christmas, the Self-government's external lawyer, Advokatfirmatet Poul Schmith, submitted a response to the arbitration court.The self-government continues to maintain that the case must be dealt with by a court and not an arbitration court.- This is clearly stated in both the Natural Resources Act and in the standard conditions associated with Greenland Minerals A/S' exploration permit.Naalakkersuisut has therefore asked the arbitration court to first make a decision on the jurisdiction of the arbitration court, the Self-Government writes on its website. Deadline January 8
This dispute is expected to be settled in the new year.By January 8 at the latest, the Self-Government had to submit their response, similar to the Danish government, which has also been made liable for damages by the Australians.Read also: The defense in the arbitration case must be submitted at the beginning of the new year. Sermitsiaq.AG has previously stated that the managing director Daniel Mamadou from Energy Transitions Minerals expects that by January there will be more clarity on what the rest of the arbitration case will look like and when it is expected to be concluded.
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