Critical Metals stated that with government approval secured, it expects to finalize the 60° North acquisition in the near term.
In March, Critical Metals announced the agreement to acquire a majority stake in 60° North Greenland ApS.Critical Metals stated that government approval satisfied a key condition of the deal announced on March 23, 2026.As part of the transaction, 60° North entered into a collaboration agreement with Tanbreez to support the development of infrastructure and local operational capacity around the project.
Shares of Critical Metals Corp (CRML) rose over 4% on Tuesday after the company announced that it received a formal nod from the government of Greenland for its previously announced acquisition of a majority interest in 60° North Greenland ApS.
The company said the Ministry responsible for land and infrastructure granted permission to buy 70% of the shares in 60° North Greenland ApS (“60° North”), making Critical Metals the indirect owner of the related land and asset portfolio.
Critical Metals stated that government approval satisfied a key condition of the deal announced on March 23, 2026.
CRML’s Tanbreez Project Boost
The company also highlighted that with this formal approval, the acquisition has enhanced its in-country operational capabilities and infrastructure.
Furthermore, the deal provides Critical Metals a direct gateway to Arctic logistics and field services, and supports the accelerated development of the Tanbreez project, the company said in a statement.
“Receiving approval from the Greenland authorities marks an important step toward completing our acquisition of 60° North,” said Tony Sage, Chairman and Chief Executive Officer at Critical Metals Corp.
CRML To Finalize Acquisition In Near Term
As part of this deal, 60° North entered into a collaboration agreement with Tanbreez to support development of infrastructure and local operational capacity around the project, the company stated in March when it announced the transaction.
With government approval secured, Critical Metals expects to finalize the acquisition in the near term.
CRML’s Foothold In Southern Greenland Solidified
Critical Metals also added that the deal will further solidify the company’s foothold in southern Greenland, where it already holds a controlling stake in the Tanbreez Project—one of the world’s largest rare earth deposits.
In April, the company announced a deal with European Lithium that gave it full ownership of the Tanbreez rare earth project in southern Greenland.
The Tanbreez project is viewed as an important asset in the global race for heavy rare earth elements used in electric vehicles, defense systems, and advanced electronics.
Unlike many Arctic projects constrained by seasonal access, Tanbreez benefits from year-round deep-water fjord logistics, giving it a structural advantage in global supply chain planning.
What Retail Traders Think About CRML
On Stocktwits, retail sentiment surrounding the stock has lowered to ‘neutral’ from ‘bullish’ amid ‘high’ message volumes.
Shares of Critical Metals have gained more than 66% year-to-date.
For updates and corrections, email newsroom[at]stocktwits[dot]com.
Read Next: NOK Rally Fizzles? Stock Drops Premarket After 27% AI-Fueled Earnings Surge
Subscribe to Chart Art
Get the daily email that keeps you tuned in and makes markets fun again.
Read about our editorial guidelines and ethics policy