Critical Metals (CRML) said Friday that the Government of Greenland has approved the transfer of the remaining 50.5% stake in Tanbreez Mining Greenland, increasing the company's ownership to 92.5%.
The company said the transaction consolidates its controlling interest in the Tanbreez rare earth project, with European Lithium retaining a 7.5% stake.
Tanbreez, located in Southern Greenland, is endowed with all eight critical heavy rare earth elements, Critical Metals said.
Shares of Critical Metals rose 22% in Friday premarket trading.
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