Critical Metals Corp. March 23 announced an agreement to acquire a majority shareholding in 60 Degree North Greenland ApS, a Greenlandic construction, exploration, logistics, and project development company that is expected to support infrastructure and local operational capacity around the company’s Tanbreez rare earth project in southern Greenland.
Critical Metals Corp.
Located roughly 15 kilometers (nine miles) northeast of the town of Qaqortoq, Tanbreez hosts a rare earth deposit enriched with zirconium, niobium, tantalum, and gallium, including an estimated 27% heavy rare earth elements – materials that have drawn increasing attention as Western governments and industry work to secure non-Chinese supply of critical minerals.
After acquiring a controlling stake in Tanbreez in 2024, Critical Metals spent the past year advancing both the technical and commercial foundation of the project.
In March 2025, the company published an inaugural SEC-compliant resource estimate outlining 25.42 million metric tons of indicated material averaging 0.37% total rare earth oxides, 1.37% zirconium dioxide, and 0.13% niobium pentoxide, along with 19.45 million metric tons of inferred resources averaging 0.39% total rare earth oxides, 1.42% zirconium dioxide, and 0.15% niobium pentoxide.
Built on decades of earlier drilling, sampling, and mineralogical work, that estimate was followed by additional re-assaying of historical core and drilling aimed at testing continuity beyond the limits of the initial resource, while commercial developments during 2025 included early-stage offtake and financing alignment tied to the project’s potential role in Western heavy rare earth supply chains.
With that broader foundation in place, the acquisition of 60 Degree North gives Critical Metals a local platform for supporting infrastructure, logistics, and field operations in Greenland.
Based in Greenland, 60 Degree North specializes in Arctic logistics, drilling support, and field operations designed to serve exploration and mining projects across the territory’s remote regions.
“This acquisition represents significant progress in our mission to build a robust, western-aligned supply chain for critical minerals,” said Critical Metals CEO Tony Sage. “By expanding our presence in Greenland through this strategic acquisition, we are strengthening our position as a reliable supplier of materials essential for defense applications, the clean energy transition, and next-generation technologies serving the United States, Europe, and their western world partners.”
As part of the transaction, 60 Degree North will support development of infrastructure and local operational capacity around Tanbreez, linking the acquisition directly to work needed on the ground as Critical Metals continues moving the rare earth project toward development.
“The whole team of professionals at 60° North Greenland welcomes the opportunity to expand our footprint and capabilities via strategic engagement with Critical Metals Corp.,” said 60 Degree North Greenland CEO Malik Rasmussen. “Critical Metals is committed to investing locally in Greenland, to upgrading technologies in various sectors in Greenland, and sharing global best practices with managers and employees who actually do the work across a variety of geographies in Greenland. By expanding our horizons, we are consolidating our professional capacity as a key link in building a better Greenland and a better world.”