Critical Metals soars after Reuters reports US government interest
Critical Metals has climbed on exclusive Reuters reporting that the Trump administration is in talks to take a stake in the company, a move that would build on recent deals where the government has built positions in mining businesses like Lithium Americas and MP Materials.
As Reuters wrote, if the talks are successful, the agreement would give the US government a direct interest in Greenland’s biggest rare earths mining project, after Critical Metals increased its stake in Tanbreez Mining Greenland AS from 42% to more than 92% just last week.
Though the company refused to comment and a government official told Reuters that there was “absolutely nothing close with this company at this time,” the potential stake would build on the government’s interest in the island, with the president having publicly mulled options to take control of Greenland in the past, as well as its increasing attention to critical minerals.
Back in August, for instance, it was reported that the government was considering reallocating at least $2 billion of funds from the CHIPS Act to put toward critical mineral projects, looking to curb its dependence on China for rare earths, which are used widely across defense, technology, and consumer electronics.
As Reuters wrote, if the talks are successful, the agreement would give the US government a direct interest in Greenland’s biggest rare earths mining project, after Critical Metals increased its stake in Tanbreez Mining Greenland AS from 42% to more than 92% just last week.
Though the company refused to comment and a government official told Reuters that there was “absolutely nothing close with this company at this time,” the potential stake would build on the government’s interest in the island, with the president having publicly mulled options to take control of Greenland in the past, as well as its increasing attention to critical minerals.
Back in August, for instance, it was reported that the government was considering reallocating at least $2 billion of funds from the CHIPS Act to put toward critical mineral projects, looking to curb its dependence on China for rare earths, which are used widely across defense, technology, and consumer electronics.
