Critical Metals strengthens Greenland rare earth position with local services acquisition

Critical Metals Corp has agreed to acquire a majority stake in 60° North Greenland, a local construction and logistics firm. The acquisition adds operational capabilities and exploration assets to support development of the Tanbreez rare earth project, reinforcing the company's western-aligned critical minerals supply chain strategy.

Critical Metals Corp has entered into an agreement to acquire a majority shareholding in 60° North Greenland ApS, a Greenlandic construction, exploration, logistics, and project development company, according to an official announcement. The acquisition strengthens the company's strategic position in southern Greenland, where it already holds a controlling interest in the Tanbreez rare earth project, one of the world's largest rare earth deposits.

Critical Metals Corp is a mining company focused on critical minerals essential for defense, clean energy, and advanced technology applications. 60° North Greenland ApS is headquartered in Qaqortoq, Greenland, and brings local operational expertise and additional exploration assets to the portfolio. As part of the transaction, 60° North Greenland will enter a collaboration agreement with Tanbreez to support infrastructure development and local operational capacity around the rare earth project. The acquisition is subject to customary closing conditions.

This development matters for the global critical minerals supply chain, particularly as Western economies seek to reduce dependency on Chinese-dominated rare earth processing. Greenland's geological endowment and strategic location make it a focal point for securing non-Chinese sources of heavy rare earths, which are essential for permanent magnets used in electric vehicles, wind turbines, and defense systems.

For the mining and resource development industry, the acquisition demonstrates a strategy of integrating local service capabilities alongside resource ownership to enable project execution in remote jurisdictions. Stakeholders including defense contractors, renewable energy manufacturers, and electric vehicle producers will monitor Tanbreez development progress as a potential new supply source outside China.