Critical Metals Plc

The United States struck a deal with Denmark granting it permanent control over security in Greenland, sending shares of mining companies with operations there sharply higher in pre-market trading. Greenland Energy Company and Greenland Mines each rose 100% pre-market, while Critical Metals gained 30%. President Trump announced over the weekend that the agreement with the Greenlandic and Danish governments would allow US security forces to establish a more permanent presence, which he described as lasting forever. The deal appears to close a chapter of uncertainty for businesses that followed earlier headlines about Trump wanting to acquire Greenland as the 51st state. Greenland Energy is seeking to drill off the eastern shore for what it says is 13 billion barrels of oil, which would be the biggest find in 50 years, though analysts cautioned that these are early-stage bets and that a greenfield mine in Greenland takes longer than the 10-year US average to reach commercial production because of ice and remote conditions.

Critical Metals has commenced a 10,000-metre diamond drilling programme at its wholly owned Tanbreez Rare Earth Project in southern Greenland. The drilling targets key mineralised zones identified in earlier exploration and is intended to support resource growth, geological modelling, mine planning, and future development. Essential accommodation and operational support infrastructure has been completed, with contractors and drill rigs now positioned across target areas. Field teams will spend the next two to three weeks verifying ground conditions and marking blast sites, while ongoing tasks include geological mapping, surface verification, and environmental monitoring. Data from the 2026 campaign is expected to underpin resource updates and feasibility studies for what the company describes as one of the largest undeveloped rare earth projects globally, with significant concentrations of heavy rare earth elements used in permanent magnets, electric vehicles, and defence systems.

USA Rare Earth Inc. shares rose 8.33 percent on Tuesday to close at $23.55 after G7 leaders agreed that no single country should supply more than 60 percent of their rare earth imports by 2030. The joint statement from the Group of Seven nations, which include the US, Canada, France, Germany, Italy, Japan, and the UK, said the aim is to reduce dependencies on a single supplier outside the G7 and partner countries, with an ambition to reach 50 percent as soon as possible. The announcement boosted rare earth stocks including USA Rare Earth, MP Materials, and Critical Metals Corp. USA Rare Earth recently commissioned a hydrometallurgical demonstration facility in Wheat Ridge, Colorado, with production of separated oxides targeted for the third quarter.