Chinese investor out of Kuannersuit company's board

In 2017, the Australian company Greenland Minerals and the Chinese company Shenghe Resources entered into a strategic partnership on the project in Kuannersuit.

The Chinese company was allegedly responsible for optimization and advisory work on the project, and had a special status in connection with the partnership, which included, among other things, having a representative on the board.

A current stock exchange announcement now shows that Shenghe Resources no longer has a representative on Greenland Minerals' board, where they have otherwise served for nine years. The first eight with Deputy Director Xiaolei Guo on the board and since 2025 with Investment Director Gan Lu.

Focusing on the US over China

The latest announcement follows an earlier announcement from January, where Greenland Energy's parent company Energy Transition Minerals (ETM) expressed that they would focus on the US over China. In addition, it was stated that the company had already made several capital increases that Shenghe Resources had not participated in, and that the Chinese ownership stake was now down to 5.9 percent.

- Greenland has already announced that no Chinese company will be able to operate in the country, so it makes sense for us to focus on the USA rather than China, said Daniel Mamadou in an interview with Sermitsiaq in March.

Whether Shenghe Resources still has the right to retain its relative share of the company - the so-called "top-up right" remains unresolved. The company's latest statement shows that the stock exchange authorities have clarified to the company that they will not make a decision in connection with the case, if a third-party decision is required.