GreenX Faces Legal Hurdles After £435M Arbitration Win Amid Rising Antimony Prices

Strategic Funding Boost for German Copper Exploration

GreenX Metals Limited (ASX:GRX) has secured a significant boost to its German copper exploration efforts by being selected as one of eight companies in BHP’s 2025 Xplor program. This prestigious cohort status brings a US$500,000 non-dilutive grant, alongside in-kind support and mentorship, aimed at accelerating exploration at the Tannenberg Copper Project. Notably, the project’s exploration license area has expanded dramatically from 272 km² to 1,900 km², opening up vast new ground for potential high-grade copper and silver discoveries.

The Tannenberg project, situated in the industrial heartland of Germany, benefits from historical mining data and multiple drill intercepts indicating shallow, large-scale mineralisation. GreenX is leveraging BHP’s expertise to integrate geophysical surveys, core relogging, and gravity data collection, setting the stage for targeted drilling campaigns in the coming months.

Greenland Projects Gain Momentum Amid Critical Minerals Demand

In Greenland, GreenX is advancing two strategic projects aligned with rising global demand for critical minerals. The Eleonore North project has revealed outstanding antimony results, with historical samples grading up to 23% antimony and notable gold mineralisation. This comes at a time when antimony prices have surged to over US$60,000 per tonne, driven by China’s export restrictions and heightened strategic interest from the US and EU.

GreenX’s exploration model targets Reduced Intrusion-related Gold Systems (RIRGS) at Eleonore North, with the antimony-gold veins potentially analogous to significant deposits such as the Stibnite Gold Project in the US. The company is actively reviewing newly digitised geological survey data to refine its exploration strategy.

Meanwhile, the Arctic Rift Copper Project, a joint venture in Greenland, covers a vast 5,774 km² license area. GreenX holds a 51% interest and is conducting advanced remote sensing analyses to better understand copper mineralisation and plan future exploration activities.

£435 Million Arbitration Award Against Poland Under Legal Challenge

GreenX confirmed a landmark international arbitration award against the Republic of Poland totaling approximately £435 million (A$525 million), awarded under bilateral investment and energy treaties. The award includes ongoing interest income estimated at £14 million per annum, offset by litigation funding costs.

However, Poland has initiated set-aside motions in courts in England and Singapore, challenging jurisdictional and procedural aspects of the awards. GreenX is vigorously defending these motions, with the legal threshold for overturning such awards considered very high. The company intends to return the majority of compensation cash to shareholders once received, signaling a potential significant capital event.

Financial Position and Outlook

During the quarter, GreenX reported exploration expenditure of A$271,000 and maintained a healthy cash position of A$3.94 million, supplemented by unused financing facilities of A$2.1 million. No mining production activities occurred during the period, consistent with the company’s focus on exploration and legal resolution.

GreenX’s strategic positioning across copper and critical minerals projects in Europe and Greenland, combined with the arbitration award, places it at an intriguing intersection of resource development and geopolitical risk. The company’s next steps will be closely watched by investors eager for exploration results and clarity on the arbitration outcome.