Update: Critical Metals Shares Rise After Greenland Approves Transfer of Tanbreez Stake

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Critical Metals (CRML) shares were up 38.5% in Friday trading after 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.

Price: $12.84, Change: $+3.57, Percent Change: +38.51%