Critical Metals Receives Greenland Government Approval for 70% Acquisition of 60 Degrees North
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2 days ago
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Should l Buy CRML?
Critical Metals has received formal approval from the Government of Greenland, acting through the Ministry responsible for land and infrastructure, for its previously announced acquisition of a majority interest in 60 degrees North Greenland. The Ministry has affirmatively granted permission for the Company to acquire 70% of the shares in 60 degrees North ApS, thereby indirectly acquiring title to the associated land and asset portfolio referenced in the Company's application. The approval satisfies a key closing condition of the transaction announced on March 23, 2026 and represents a significant milestone in the Company's strategy to expand its operational footprint in Greenland.
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About CRML
Critical Metals Corp. is a mining development company focused on critical metals and minerals, and producing strategic products essential to electrification. The Company’s project includes Tanbreez Project and Wolfsberg Lithium Project. The Tanbreez Rare Earth Project is a massive, rare-earth deposit rich in heavy rare earth elements (HREEs), and rare metal oxides like tantalum, niobium, zirconium, hafnium and gallium which are important for high-tech and military applications. It is located in Southern Greenland. The Wolfsberg Lithium Project is located in Carinthia, 270-kilometer (km) south of Vienna, Austria. The Wolfsberg Lithium Project is the permitted mine in Europe and located with access to established road and rail infrastructure. With its strategic asset portfolio, the Company supplies critical minerals essential for defense applications, the clean energy transition, and technologies.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Critical Metals Secures Majority Stake in 60° North Greenland ApS
- Acquisition Agreement: Critical Metals announced the acquisition of a 70% stake in 60° North Greenland ApS, receiving government approval from Greenland, which marks the fulfillment of a key condition for the deal and is expected to enhance the company's operational capabilities in southern Greenland.
- Infrastructure Collaboration: 60° North entered into a collaboration agreement with Tanbreez to support the development of infrastructure and local operational capacity around the project, thereby strengthening Critical Metals' competitive position in the region.
- Accelerated Project Development: With government approval secured, Critical Metals will expedite the development of the Tanbreez project, leveraging its controlling stake in southern Greenland to further solidify its position in the global rare earth elements market, particularly in electric vehicles and defense systems.
- Positive Market Reaction: Following the acquisition announcement, shares of Critical Metals rose over 4%, reflecting market confidence in the company's growth potential, with the stock gaining over 66% year-to-date.
See More
CRML EXTENDS EXCLUSIVITY PERIOD TO COMPLETE SCHEME DOCUMENTATION
- Announcement of Extension: The organization has announced an extension of the exclusivity period for a finalization scheme.
- Impact on Documentation: This extension will affect the documentation process related to the finalized scheme.
See More
Greenland Mines Joins European Raw Materials Alliance
- Strategic Alliance Membership: Greenland Mines and its 80%-owned subsidiary Major Precious Greenland A/S officially joined the European Raw Materials Alliance (ERMA) on April 22, 2026, marking a significant positioning of the Skaergaard gold-platinum-palladium project within the EU's critical raw materials security framework, which is expected to enhance its appeal in capital markets.
- Significant Resource Value: The Skaergaard project is estimated to host 25.4 million ounces of palladium-equivalent and 23.5 million ounces of gold-equivalent, with an undiscounted in-situ resource value of approximately $68 billion based on February 2026 metal prices, providing strong support for future financing and market demand due to its substantial resource base.
- Low-Carbon Processing Pathway: The project plans to leverage Iceland's geothermal industrial base for low-carbon processing of ore, which not only aligns with the EU's climate strategy but also attracts more investment and collaboration opportunities, facilitating the advancement of the project.
- Policy and Market Integration: Membership in ERMA enables Greenland Mines to engage directly with European industrial users, fostering strategic partnerships and long-term offtake agreements, which will provide crucial policy support and market foundation for the project's financing and commercialization.
See More
Critical Metals Corp Secures Acquisition Approval in Greenland
- Acquisition Approval: Critical Metals Corp has received formal approval from the Government of Greenland to acquire 70% of 60° North Greenland ApS, satisfying a key closing condition of the transaction announced on March 23, 2026, marking a significant milestone in the company's strategy to expand its operational footprint in Greenland.
- Strategic Importance: This acquisition will enhance the company's operational capabilities and infrastructure in Greenland, providing direct access to Arctic logistics and field services, thereby accelerating the development of the Tanbreez project and further solidifying the company's market position in southern Greenland.
- Market Outlook: With the acquisition moving forward, Critical Metals Corp expects to strengthen its competitiveness in the global rare earth market, particularly as the Tanbreez project is recognized as one of the world's largest rare earth deposits, featuring direct shipping access to the North Atlantic via deep-water fjords.
- Future Development: Critical Metals Corp is committed to responsible development in Greenland, aiming to build a secure, western-aligned supply chain for critical minerals to support the clean energy transition and the advancement of next-generation technologies.
See More
Western Star Resources Positions for Tungsten Project Amid Policy Changes
- Surging Tungsten Prices: Rotterdam ammonium paratungstate (APT) is trading near $3,185 per metric tonne, reflecting a 350% year-to-date increase, driven by China's export restrictions and surging U.S. defense demand, indicating significant profit potential for Western Star Resources in tungsten development.
- Policy-Driven Opportunities: With the U.S. Department of Defense set to ban tungsten from China and other nations by January 2027, Western Star Resources has swiftly submitted a project proposal to the Defense Industrial Base Consortium, aiming to capitalize on this policy window to advance its tungsten assets.
- Investor Relations Agreement: Western Star has signed a 12-month investor relations agreement with Plutus Invest & Consulting GmbH for €200,000, focused on enhancing market awareness in Europe through advertorial marketing, thereby laying the groundwork for future financing and market expansion.
- Private Placement Plan: The company announced a non-brokered private placement of 833,333 flow-through common shares at $0.60 per share, expected to raise $500,000 for Canadian exploration expenses, qualifying for the Critical Mineral Exploration Tax Credit, showcasing its proactive strategy in capital raising and project advancement.
See More
Critical Metals Corp to Present at Investor Conference
- Investor Conference Announcement: Critical Metals Corporation will present at the Virtual Investor Conference on May 5, 2026, led by Director of Corporate Development Tom McNamara, which is expected to attract investors interested in rare earths and critical materials.
- Interactive Q&A Session: The conference will feature a real-time interactive Q&A segment, allowing investors to pose questions directly to the company, thereby enhancing communication efficiency and potentially increasing investor trust and transparency.
- Recent Company Highlights: The company recently confirmed proof of concept for Tanbreez and secured a 92.5% ownership at the asset level, which will lay a solid foundation for further development in the rare earth market.
- Strategic Development Goals: Critical Metals Corp. is focused on developing one of the world's most promising rare earth deposits to meet the rising global demand for secure and sustainable critical minerals, showcasing its vital role in the clean energy transition.
See More
Critical Metals Secures Majority Stake in 60° North Greenland ApS
- Acquisition Agreement: Critical Metals announced the acquisition of a 70% stake in 60° North Greenland ApS, receiving government approval from Greenland, which marks the fulfillment of a key condition for the deal and is expected to enhance the company's operational capabilities in southern Greenland.
- Infrastructure Collaboration: 60° North entered into a collaboration agreement with Tanbreez to support the development of infrastructure and local operational capacity around the project, thereby strengthening Critical Metals' competitive position in the region.
- Accelerated Project Development: With government approval secured, Critical Metals will expedite the development of the Tanbreez project, leveraging its controlling stake in southern Greenland to further solidify its position in the global rare earth elements market, particularly in electric vehicles and defense systems.
- Positive Market Reaction: Following the acquisition announcement, shares of Critical Metals rose over 4%, reflecting market confidence in the company's growth potential, with the stock gaining over 66% year-to-date.
See More
CRML EXTENDS EXCLUSIVITY PERIOD TO COMPLETE SCHEME DOCUMENTATION
- Announcement of Extension: The organization has announced an extension of the exclusivity period for a finalization scheme.
- Impact on Documentation: This extension will affect the documentation process related to the finalized scheme.
See More
Greenland Mines Joins European Raw Materials Alliance
- Strategic Alliance Membership: Greenland Mines and its 80%-owned subsidiary Major Precious Greenland A/S officially joined the European Raw Materials Alliance (ERMA) on April 22, 2026, marking a significant positioning of the Skaergaard gold-platinum-palladium project within the EU's critical raw materials security framework, which is expected to enhance its appeal in capital markets.
- Significant Resource Value: The Skaergaard project is estimated to host 25.4 million ounces of palladium-equivalent and 23.5 million ounces of gold-equivalent, with an undiscounted in-situ resource value of approximately $68 billion based on February 2026 metal prices, providing strong support for future financing and market demand due to its substantial resource base.
- Low-Carbon Processing Pathway: The project plans to leverage Iceland's geothermal industrial base for low-carbon processing of ore, which not only aligns with the EU's climate strategy but also attracts more investment and collaboration opportunities, facilitating the advancement of the project.
- Policy and Market Integration: Membership in ERMA enables Greenland Mines to engage directly with European industrial users, fostering strategic partnerships and long-term offtake agreements, which will provide crucial policy support and market foundation for the project's financing and commercialization.
See More
Critical Metals Corp Secures Acquisition Approval in Greenland
- Acquisition Approval: Critical Metals Corp has received formal approval from the Government of Greenland to acquire 70% of 60° North Greenland ApS, satisfying a key closing condition of the transaction announced on March 23, 2026, marking a significant milestone in the company's strategy to expand its operational footprint in Greenland.
- Strategic Importance: This acquisition will enhance the company's operational capabilities and infrastructure in Greenland, providing direct access to Arctic logistics and field services, thereby accelerating the development of the Tanbreez project and further solidifying the company's market position in southern Greenland.
- Market Outlook: With the acquisition moving forward, Critical Metals Corp expects to strengthen its competitiveness in the global rare earth market, particularly as the Tanbreez project is recognized as one of the world's largest rare earth deposits, featuring direct shipping access to the North Atlantic via deep-water fjords.
- Future Development: Critical Metals Corp is committed to responsible development in Greenland, aiming to build a secure, western-aligned supply chain for critical minerals to support the clean energy transition and the advancement of next-generation technologies.
See More
Western Star Resources Positions for Tungsten Project Amid Policy Changes
- Surging Tungsten Prices: Rotterdam ammonium paratungstate (APT) is trading near $3,185 per metric tonne, reflecting a 350% year-to-date increase, driven by China's export restrictions and surging U.S. defense demand, indicating significant profit potential for Western Star Resources in tungsten development.
- Policy-Driven Opportunities: With the U.S. Department of Defense set to ban tungsten from China and other nations by January 2027, Western Star Resources has swiftly submitted a project proposal to the Defense Industrial Base Consortium, aiming to capitalize on this policy window to advance its tungsten assets.
- Investor Relations Agreement: Western Star has signed a 12-month investor relations agreement with Plutus Invest & Consulting GmbH for €200,000, focused on enhancing market awareness in Europe through advertorial marketing, thereby laying the groundwork for future financing and market expansion.
- Private Placement Plan: The company announced a non-brokered private placement of 833,333 flow-through common shares at $0.60 per share, expected to raise $500,000 for Canadian exploration expenses, qualifying for the Critical Mineral Exploration Tax Credit, showcasing its proactive strategy in capital raising and project advancement.
See More
Critical Metals Corp to Present at Investor Conference
- Investor Conference Announcement: Critical Metals Corporation will present at the Virtual Investor Conference on May 5, 2026, led by Director of Corporate Development Tom McNamara, which is expected to attract investors interested in rare earths and critical materials.
- Interactive Q&A Session: The conference will feature a real-time interactive Q&A segment, allowing investors to pose questions directly to the company, thereby enhancing communication efficiency and potentially increasing investor trust and transparency.
- Recent Company Highlights: The company recently confirmed proof of concept for Tanbreez and secured a 92.5% ownership at the asset level, which will lay a solid foundation for further development in the rare earth market.
- Strategic Development Goals: Critical Metals Corp. is focused on developing one of the world's most promising rare earth deposits to meet the rising global demand for secure and sustainable critical minerals, showcasing its vital role in the clean energy transition.
See More
