Critical Metals Stock Surges 24 Percent Following Greenland Approval of Tanbreez Project Ownership

Critical Metals Corp. gains full control of the Tanbreez project in Greenland. Shares surge 23% as the $3B rare earth deposit clears a major regulatory hurdle.

By: AXL Media

Published: Apr 18, 2026, 4:32 PM EDT

Source: Information for this report was sourced from MINING.COM

Regulatory Clearance for Ownership Consolidation

The Greenlandic government has officially approved the indirect transfer of the mining license for the Tanbreez rare earth project, marking a pivotal regulatory milestone for Critical Metals Corp. Under the territory’s established mining framework, this indirect transfer permits a change in the ownership structure of the license holder, Tanbreez Mining Greenland A/S, without altering the legal entity that possesses the license. This administrative green light enables Critical Metals to finalize its move to a 92.5 percent controlling interest in the southern Greenland asset, while European Lithium retains the remaining 7.5 percent stake.

Market Reaction and Valuation Growth

Financial markets responded aggressively to the announcement, with Critical Metals Corp. shares jumping 23.6 percent in pre-market trading to reach $11.46 per share. This surge afforded the company a market capitalization of approximately $1.4 billion, reflecting a nearly four-fold increase in stock value over the past year. While the current price remains below the peak reached in October 2025, the rally underscores investor confidence in the project's ability to transition from a development-stage asset to a high-capacity production facility within the global critical minerals sector.

Strategic Importance of Heavy Rare Earth Deposits

Located at Killavaat Alannguat, the Tanbreez project is categorized as one of the most significant undeveloped heavy rare earth deposits situated outside of China. A preliminary economic assessment conducted in March 2025 valued the southern Greenland project at $3 billion, supported by an extensive 4.7 billion tonne resource base. According to technical reports, the site is particularly rich in scarce and high-value heavy magnet rare earths, including dysprosium and terbium, which are essential for advanced manufacturing and renewable energy technologies.