Critical Metals Corp. (NASDAQ: CRML) Secures Greenland Government Approval for 70% Acquisition of 60° North ApS, Accelerating Development of World-Class Tanbreez Project
Rhea-AI Summary
Critical Metals Corp (NASDAQ: CRML) received formal Government of Greenland approval to acquire 70% of 60° North ApS, including indirect title to the referenced land and asset portfolio. The approval satisfies a key closing condition from the March 23, 2026 transaction and advances Tanbreez development.
Strategic highlights include enhanced in-country capabilities, direct access to Arctic logistics and field services, and expected near-term finalization to strengthen the company’s position in southern Greenland at the Tanbreez project.
Positive
- Government approval obtained for 70% acquisition
- Access to land and assets tied to 60° North portfolio
- Improved Arctic logistics and field services access
- Accelerates Tanbreez development where CRML holds control
Negative
- Acquisition not yet closed; finalization remains pending despite approval
News Market Reaction – CRML
On the day this news was published, CRML gained 3.10%, reflecting a moderate positive market reaction. Argus tracked a peak move of +4.7% during that session. Our momentum scanner triggered 20 alerts that day, indicating elevated trading interest and price volatility. This price movement added approximately $52M to the company's valuation, bringing the market cap to $1.72B at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Acquisition Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Apr 30 | Ownership increase | Positive | +11.9% | Closed final 50.5% Tanbreez stake, lifting ownership to 92.5% via share issuance. |
| Apr 27 | Major acquisition LOI | Positive | +25.5% | Proposed European Lithium acquisition to consolidate remaining Tanbreez interest and cash. |
| Mar 23 | 60° North deal | Positive | +7.0% | Announced agreement to acquire majority stake in 60° North to bolster Greenland ops. |
| Jan 12 | Lab facility order | Positive | -1.4% | Ordered mobile geochemical analysis centre to accelerate Tanbreez drilling assays. |
| Nov 21 | Copper stockpile deal | Positive | -1.4% | All-share acquisition of ultra-high-purity copper powder stockpile at premium valuation. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Acquisition news has generally driven positive reactions for CRML, though smaller negative moves have occurred on select deals.
Over recent months, CRML has used acquisitions to build out its Greenland-focused critical minerals platform. It increased Tanbreez ownership to 92.5% on Apr 30, 2026, proposed acquiring European Lithium with implied consideration of US$835 million, and agreed in Nov 2025 to acquire ultra-high-purity copper powder in a US$20 million all-share deal. A Jan 2026 order for a mobile assay lab targeted faster drilling data. Today’s 60° North approval fits this pattern of adding strategic assets and operational capacity around Tanbreez.
AI-generated analysis. How Rhea-AI works. Not financial advice.
NEW YORK, May 05, 2026 (GLOBE NEWSWIRE) -- Critical Metals Corp. (Nasdaq: CRML) (“Critical Metals Corp.” or the “Company”), a leading critical mineral mining company, today announced that it 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° North Greenland ApS (“60° North”).
The Ministry has affirmatively granted permission for the Company to acquire
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.
Strategic Highlights:
- Enhances in-country operational capabilities and infrastructure
- Provides direct access to Arctic logistics and field services
- Supports the accelerated development of the Tanbreez project
Tony Sage, Chairman and CEO of Critical Metals Corp., commented:
“Receiving approval from the Greenland authorities marks an important step toward completing our acquisition of 60° North. This outcome reflects our commitment to responsible development in Greenland and to building a secure, western-aligned supply chain for critical minerals.”
With government approval secured, Critical Metals expects to finalize the acquisition in the near term. The transaction will further strengthen the Company’s position in southern Greenland, where it holds a controlling interest in the Tanbreez Project—one of the world’s largest rare earth deposits.
ABOUT 60° NORTH GREENLAND ApS
60° North ApS is a Greenland-based provider of construction, logistics, drilling, and project development services supporting mineral exploration and mining operations across the region.
ABOUT CRITICAL METALS CORP.
Critical Metals Corp (Nasdaq: CRML) is a leading mining development company focused on critical metals and minerals, and producing strategic products essential to electrification and next-generation technologies for Europe and its Western world partners. Its flagship Project, Tanbreez, is one of the world's largest, rare-earth deposits and is located in Southern Greenland. The deposit is expected to have access to key transportation outlets as the area features year-round direct shipping access via deep water fjords that lead directly to the North Atlantic Ocean.
Another key asset is the Wolfsberg Lithium Project located in Carinthia, 270 km south of Vienna, Austria. The Wolfsberg Lithium Project is the first fully permitted mine in Europe and is strategically located with access to established road and rail infrastructure and is expected to be the next major producer of key lithium products to support the European market. Wolfsberg is well positioned with offtake and downstream partners to become a unique and valuable asset in an expanding geostrategic critical metals portfolio. With this strategic asset portfolio, Critical Metals Corp is positioned to become a reliable and sustainable supplier of critical minerals essential for defense applications, the clean energy transition, and next-generation technologies in the western world.
For more information, please visit https://www.criticalmetalscorp.com/.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements may include expectations of our business and the plans and objectives of management for future operations. These statements constitute projections, forecasts and forward-looking statements, and are not guarantees of performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this news release, forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target,” “designed to” or other similar expressions that predict or indicate future events or trends or that are not statements of historical facts. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.
Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements for many reasons, including the factors discussed under the “Risk Factors” section in the Company’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission. These forward-looking statements are based on information available as of the date of this news release, and expectations, forecasts and assumptions as of that date, involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Critical Metals Corp.
Investor Relations: ir@criticalmetalscorp.com
Media: pr@criticalmetalscorp.com
