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<\/p>\nCritical Metals stated that with government approval secured, it expects to finalize the 60\u00b0 North acquisition in the near term.<\/p>\n
In March, Critical Metals announced the agreement to acquire a majority stake in 60\u00b0 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\u00b0 North entered into a collaboration agreement with Tanbreez to support the development of infrastructure and local operational capacity around the project.<\/p>\n
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\u00b0 North Greenland ApS.<\/p>\n
The company said the Ministry responsible for land and infrastructure granted permission to buy 70% of the shares in 60\u00b0 North Greenland ApS\u00a0(\u201c60\u00b0 North\u201d), making Critical Metals the indirect owner of the related land and asset portfolio.<\/p>\n
Critical Metals stated that government approval satisfied a key condition of the deal announced on March 23, 2026.<\/p>\n
CRML\u2019s Tanbreez Project Boost<\/p>\n
The company also highlighted that with this formal approval, the acquisition has enhanced its in-country operational capabilities and infrastructure.\u00a0<\/p>\n
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.\u00a0<\/p>\n
\u201cReceiving approval from the Greenland authorities marks an important step toward completing our acquisition of 60\u00b0 North,\u201d said\u00a0Tony Sage, Chairman and Chief Executive Officer at Critical Metals Corp.<\/p>\n
CRML To Finalize Acquisition In Near Term<\/p>\n
As part of this deal, 60\u00b0 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.<\/p>\n
With government approval secured, Critical Metals expects to finalize the acquisition in the near term.<\/p>\n
CRML\u2019s Foothold In Southern Greenland Solidified<\/p>\n
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\u2014one of the world’s largest rare earth deposits.<\/p>\n
In April, the company announced a deal with\u00a0European Lithium that gave it full ownership of the Tanbreez rare earth project in southern Greenland.<\/p>\n
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.<\/p>\n
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.<\/p>\n
What Retail Traders Think About CRML<\/p>\n
On Stocktwits, retail sentiment surrounding the stock has lowered to \u2018neutral\u2019 from \u2018bullish\u2019 amid \u2018high\u2019 message volumes.<\/p>\n
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Shares of Critical Metals<\/a> have gained more than 66% year-to-date.<\/p>\n For updates and corrections, email newsroom[at]stocktwits[dot]com.<\/p>\n Read Next: NOK Rally Fizzles? Stock Drops Premarket After 27% AI-Fueled Earnings Surge<\/a><\/p>\n
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