Greenland again a focus as Critical Metals ups rare-earths stake

As the Strait of Hormuz gets unblocked, Greenland returns to the spotlight.

Greenland's government has approved the transfer of its remaining 50.5% interest in the Tanbreez deposit to Critical Metals, bringing the New York-based company's total ownership to 92.5%.

The Tanbreez rare-earth deposit is one of the world's largest known rare-earths projects and was eyed by the Trump administration last year, when it floated the idea of acquiring Greenland.

Critical Metals (CRML) shares jumped 22% in premarket trading Friday after the announcement.

Rare earth supply chain race

The deal also brings renewed focus to Greenland's emerging role in the global race for critical minerals.

Tanbreez contains rare earth elements including terbium and dysprosium, crucial materials used in magnets, consumer electronics and defense technology.

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.

U.S. Treasury Secretary Scott Bessent on Wednesday urged the World Bank to move quickly to support projects developing critical minerals.

Related: The World Bank has stark message on Strait of Hormuz

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.

"This is a game-changing moment for Critical Metals Corp. and for Western rare earth supply security," Chairman Tony Sage said in a statement. "It removes the most significant structural overhang on the project and provides the clarity to advance Tanbreez to production with confidence."

U.S. eyed stakes

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.

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.

Those discussions reflected the administration's effort to reduce reliance on China, which dominates global rare-earth supply chains.

That strategic planning was detailed in both the National Security Strategy, released late last year, and the 2026 National Defense Strategy, released in January.

Related: Tariffs tied to Greenland dispute could rattle U.S. interest rates

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This story was originally published April 18, 2026 at 7:17 AM.