Critical Metals CEO Tony Sage said he met Greenland’s foreign affairs and mining minister. <\/p>\n
He also highlighted progress on Tanbreez advanced drilling, camp construction, infrastructure development and pilot-plant preparations. <\/p>\n
The company owns 92.5% of the Greenland project and aims to supply Western processors outside China. <\/p>\n
Critical Metals Corp. (CRML) gained in Monday’s premarket as CEO Tony Sage highlighted fresh progress at the company’s Tanbreez rare earth project in southern Greenland, including drilling, site construction and pilot-plant preparations. This update comes as the company seeks to turn one of the region’s major mineral prospects into a potential source of Western rare earth supplies. <\/p>\n
CRML CEO Updates On Government Engagement <\/p>\n
In a series of X posts over the weekend, Tony Sage, executive chairman and CEO of Critical Metals, said he met in Nuuk with Greenland’s foreign affairs and mining minister to discuss activity at Tanbreez. The talks came as three drill rigs operated at the site, another was being brought in and mine-pit planning advanced. <\/p>\n
See what 10M+ investors are talking about. Get the Stocktwits Daily Rip for what retail is watching right now, free to your inbox<\/a> <\/p>\n Sage subsequently traveled to the project, where crews had established an operating camp and were progressing with buildings and other infrastructure. The company was also preparing its core facility and pilot plant, with a bulk sample expected to provide material for processing tests. <\/p>\n “On site, taking shape. Camp is up and running.. Bulk sample starting,” said Sage. <\/p>\n Critical Metals stock traded nearly 1% higher in Monday’s premarket. <\/p>\n From Exploration To Testing <\/p>\n The current work marks a shift from geological studies toward practical development. Drilling should add information about the deposit and support mine planning, while bulk sampling and pilot-plant work can provide a more direct test of how the ore behaves during processing. <\/p>\n Tanbreez has attracted attention because Western governments and companies want additional rare earth sources outside China’s dominant processing network. Critical Metals holds a 92.5% stake in the Tanbreez rare earth project in southern Greenland. <\/p>\n The company is working to build an alternative supply chain outside China by shipping minerals directly to processing facilities in North America and Europe. <\/p>\n U.S. Defense Needs Drive Critical-Minerals Spending <\/p>\n The Greenland project updates come as the U.S. government announced plans last week to invest $3 billion in critical minerals and battery projects. The push reflects growing concerns over access to minerals needed for weapons, electric vehicles and advanced technologies, particularly as the U.S. seeks to reduce dependence on China. <\/p>\n Also, Federal rules scheduled<\/a> for Jan. 1, 2027, will limit defense contractors from purchasing certain critical materials, including rare earth elements, magnets, tungsten, molybdenum and tantalum, from China and other restricted countries. <\/p>\n China still controls most of the rare earth supply chain, raising concerns for countries and companies that want more reliable sources. China produces about 70% of the world’s rare earth minerals and handles nearly 90% of global processing and refining. <\/p>\n CRML Stock: Retail Stance <\/p>\n However, on Stocktwits, retail sentiment around the stock remained in ‘bearish’ territory. <\/p>\n A user said<\/a>, “bulls what a weekend lot of teaser from managment on tanbreez project.” <\/p>\n CRML stock has declined 4% year-to-date. <\/p>\n Also See: BABA Stock Gains Ground: Alibaba Reportedly Sells Gaming Unit For $1.5B As Qwen Fuels Bigger AI Push<\/a> <\/p>\n For updates and corrections, email newsroom[at]stocktwits[dot]com. <\/p>\n Shivani Kumaresan has no position in any of the stocks mentioned in this article. StockTwits’ news team content is for informational purposes only and is not intended as investment advice. For more, see our editorial policy<\/a>. This article was originally published on StockTwits<\/a>. <\/p>\n Related: <\/p>\n","protected":false},"excerpt":{"rendered":"Critical Metals CEO Tony Sage said he met Greenland’s foreign affairs and mining minister. 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