Australian former foreign affairs minister and deputy Liberal Party leader Julie Bishop has been appointed as strategic advisor for Greenland-focused explorer Energy Transition Minerals (ASX : ETM) to help navigate the geopolitical dispute around the company’s world-class Kvanefjeld rare earths project.
ETM shares have been on a heater since it was given license to conduct fieldwork at Kvanefjeld in the second half of 2024, its share price rising >400% since early November.
The ASX junior has held a substantial investment in the project for more than a decade, held back from exploration efforts due to environmental concerns.
“Julie Bishop is one of Australia’s most successful and highly regarded foreign affairs ministers, with an outstanding track record of working with governments around the world to deliver mutually beneficial outcomes,” ETM CEO Daniel Mamadou said.
“We are absolutely delighted to have her on board as a strategic advisor to provide advice and assistance to ETM as we engage with the Greenlandic community, key stakeholders and government authorities to advance the Kvanefjeld project towards development, in parallel with the ongoing legal process.”
Fuel to the fire
With President-elect Donald Trump’s interest in purchasing Greenland heating up once again after comments by the Danish protectorate’s leader that the country would work with the U.S., further focus is on the ice-capped land’s underexplored natural resources is being reignited.
“The reality is we are going to work with the U.S. - yesterday, today and tomorrow,” Greenland prime minister Múte Egede said at a news conference in the capital Nuuk.
It’s thought that apart from its already identified oil and gas wealth, melting ice caps will allow exploration into previously untapped areas where potentially huge deposits of minerals such as copper, graphite, rare earths, zinc and gold can be sourced.
Shares in ETM soared on open trade today, advancing >19% to swap for 8.6c at time of writing.
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