<\/p>\n
As the Strait of Hormuz gets unblocked, Greenland returns to the spotlight.<\/p>\n
Greenland\u2019s government has approved the transfer of its remaining 50.5% interest in the Tanbreez deposit to Critical Metals, bringing the New York-based company\u2019s total ownership to 92.5%.<\/p>\n
The Tanbreez rare-earth deposit is one of the world\u2019s largest known rare-earths projects and was eyed by the Trump administration last year, when it floated the idea of acquiring Greenland.<\/p>\n
Critical Metals (CRML) shares jumped 22% in premarket trading Friday after the announcement.<\/p>\n
Rare earth supply chain race<\/p>\n
The deal also brings renewed focus to Greenland\u2019s emerging role in the global race for critical minerals.<\/p>\n
Tanbreez contains rare earth elements including terbium and dysprosium, crucial materials used in magnets, consumer electronics and defense technology.<\/p>\n
In a global landscape where China dominates rare-earth mining and processing, the Trump administration and its allies have been pushing for supply-chain independence.<\/p>\n
U.S. Treasury Secretary Scott Bessent on Wednesday urged the World Bank to move quickly to support projects developing critical minerals.<\/p>\n
Related: The World Bank has stark message on Strait of Hormuz<\/p>\n
With near-total ownership now secured, Critical Metals said it is positioned to become a cornerstone supplier of heavy rare earth elements to Western markets.<\/p>\n
\u201cThis is a game-changing moment for Critical Metals Corp. and for Western rare earth supply security,\u201d Chairman Tony Sage said in a statement. \u201cIt removes the most significant structural overhang on the project and provides the clarity to advance Tanbreez to production with confidence.\u201d<\/p>\n
U.S. eyed stakes<\/p>\n
The development also brought Greenland back into focus as a strategically important yet untapped resource. The semi-autonomous Danish territory has drawn growing interest in recent years because of its deposits of rare earths and other critical materials.<\/p>\n
Trump administration officials had discussed taking a stake in Critical Metals, a move that would have given the U.S. direct exposure to the Greenland deposit, Reuters reported last October.<\/p>\n
Those discussions reflected the administration\u2019s effort to reduce reliance on China, which dominates global rare-earth supply chains.<\/p>\n
That strategic planning was detailed in both the National Security Strategy, released late last year, and the 2026 National Defense Strategy, released in January.<\/p>\n
Related: Tariffs tied to Greenland dispute could rattle U.S. interest rates<\/p>\n
#Greenland #focus #Critical #Metals #ups #rareearths #stake<\/p>\n","protected":false},"excerpt":{"rendered":"
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