Critical Metals Rises 4% on Trump’s Greenland Mineral Exploration Plan; USA Rare Earth Declines 3%, MP Materials Slips 2%

Greenland-linked stocks surged premarket after President Trump posted about 'massive' oil, gas, and mineral exploration on the island. Greenland Energy (GLND) rose 90.08% to $4.20, Greenland Mines (GRML) gained 43.50% to $7.95, and Critical Metals (CRML) increased 4.61% to $6.84. Trump's post cited experts claiming Greenland's oil supply is among the world's largest.

MP Materials opened a magnet manufacturing plant in Fort Worth, employing 350+ workers, with plans to expand to 2,000. The facility supports contracts with General Motors and Apple, including a $500M deal with Apple. The company is also building a 1.2M sq ft campus in Northlake. These expansions aim to boost domestic rare earth magnet production and supply chain capacity.

Critical Metals Corp. (CRML) shares rose after Greenland approved its Tanbreez rare-earth project's mining and closure plans through 2050. The approval covers 19 critical elements, removing a major regulatory hurdle. CRML shares gained about 4% in trading. The project is strategically important for US supply chains, as China controls over 85% of global rare-earth refining and processing.

Critical Metals Corp. (CRML) rose after Greenland approved its Tanbreez rare-earth mining plan through 2050, removing a major hurdle. The approval covers 19 critical elements and operations for 24 years. Shares gained 4% before pulling back. The company still needs additional permits for construction. The project is strategically important for U.S. supply chains.

The U.S. is boosting domestic rare earth production with federal support, including grants, loans, equity stakes, and purchase agreements. The Department of Commerce invested $1.6 billion in USA Rare Earth, while the Department of Defense agreed to a 10-year purchase deal and price floor with MP Materials. High production costs may slow some segments' growth, according to ING.

Critical Metals (CRML) received Greenland government approval for its Tanbreez rare earths project's mining and closure plans. The project has a $2.1B NPV and $290M initial capital costs. Shares rose 4.4% to $7.34. Further permits and financial security are needed before construction can start.