Kuannersuit company wants on the American stock exchange

The Australian mineral resources company Energy Transition Minerals, which, through its Greenlandic subsidiary Greenland Minerals, is currently pursuing a lawsuit against the self-government because they believe they have been wrongfully denied a exploitation permit for Kuannersuit, will now explore the possibility of listing on the American stock exchange Nasdaq.

The goal of such an IPO is to get closer to American investors, the company said in a recent announcement. Same strategy as Critical Metals Corp.

The investment bank Cohen & Company Market, based in New York, has been tasked with investigating and advising Energy Transition Minerals on what is needed to get listed on Nasdaq.

According to the company, the investment bank has extensive experience with a special form of IPO called SPAC (Special Purpose Acquisition Company), which was also used, among other things, when another Australian company with an interest in Greenland; Critical Metals Corp, was listed last year.

Here too, Cohen & Company Market was responsible for the task.

Access to US markets

According to ETM CEO Daniel Mamadou, the company’s strategy is in line with the Western world’s desire to break China’s monopoly on the supply of rare earths. And “Given that most of the drive to do this is led by the US, it makes perfect sense to pursue a Nasdaq listing, where we can access the right investor support and capital to take the strategy to the next level,” Daniel Mamadou said in the stock exchange announcement, adding that he “looks forward to working with the Cohen team to unlock the enormous value in the Kuannersuit project for the benefit of shareholders and other stakeholders.”

Money for litigation

Professor of financial management at Aalborg University, Per Nikolaj Bukh, has also read the stock exchange announcement, and he assesses that the possible listing in the US is about gaining access to capital to cover the lawsuit the company is facing in Greenland.

– The company needs capital for the lawsuit, and you want to have that in place before you get too stressed. And it could well be that the company is sitting on a golden egg if they win the lawsuit, reach a settlement or just get the money back that they invested.

The company's demand is that they will be allowed to continue the project at Kuannersuit towards an exploitation permit. Alternatively 76 billion kroner in compensation.

Not coincidental timing

Per Nikolaj Bukh also notes the timing of the announcement, precisely in 2025, when Trump has said several times that the United States needs Greenland for national security reasons.

– If you are an American investor and believe even slightly that Trump will succeed in taking over Greenland in one way or another, then you will probably invest in this company because you believe that the United States will be able to influence Greenland to reach a settlement in exchange for perhaps being offered the prospect of other investments in the business community, says Per Nikolaj Bukh.

Will appoint American advisor

ETM announced a few months ago that they had appointed two advisors from Denmark. Former Foreign Minister Jeppe Kofod and former ambassador to the USA, China and Germany, Friis Arne Petersen.

In addition, the company now writes that they are actively working to appoint an American advisor who will strengthen ties to the investor market and American politicians.

The first meeting in the case between Energy Transition Minerals/Greenland Minerals and the Government of Iceland is set for January 12, 2026, after which the timetable for the further course of the case is expected to be published.