Donald Trump’s desire to acquire Greenland by annexing the Danish territory has had at least one unintended effect. Shortly after the president-elect ramped up his threats to take over the world’s largest island, shares in ASX-listed Energy Transition Minerals shot up 36 per cent.

The Perth-headquartered company, once known as Greenland Minerals, controls the Kvanefjeld project in the territory’s south. It says it is the world’s second-largest deposit of rare earth oxides, and sixth-largest of uranium.