Critical Metals shares surge on Greenland security agreement

Shares of Critical Metals Corp. surged following the announcement of a security agreement between the United States, Denmark, and Greenland. The agreement, announced by President Trump, aims to expand the U.S. military presence in Greenland while preventing adversaries from developing military bases in the region.

The security pact has increased investor interest in Greenland’s mineral deposits, specifically the Tanbreez Rare Earth Project being developed by Critical Metals. The project is noted for being one of the world’s largest undeveloped deposits of heavy rare-earth elements, which are essential for defense systems, advanced magnets, and precision electronics.

In addition to the geopolitical developments, recent company data indicated high-purity processing results, with more than 99% dissolution of eudialyte concentrate into 19 rare earth products. A refinery study projected potential annual revenues between $1.8 billion and $2.2 billion for the project, though the company does not expect to begin ore production until late 2028 or early 2029.