Critical Metals jumps as Trump mulls Greenland acquisition, rare earth focus lifts interest

Critical Metals

07/01/2026 16:37

Updates

** Shares of mining company Critical Metals CRML.O up 7.3% at $12.68

** The White House said on Tuesday that President Donald Trump is discussing options for acquiring Greenland, including potential use of the U.S. military

** CRML has a strategic presence in Greenland

** CEO Tony Sage says President Trump's claims that U.S. national security requires control over Greenland have added to market interest

** Focus could remain on rare earths, which could help reestablish American dominance in a segment where China currently controls a significant share of global production, adds Sage

        ** Rare earth prices rise on tight supply, strong EV, defense and renewables demand; geopolitical risks and 2026 offtake deals may keep interest high in industry, CRML - CEO

        ** Heightened U.S. and European focus on reducing reliance on China for rare earths could support CRML and other rare earth elements supply-chain players, says Clear Street

** Reuters reported in October that Trump administration officials have discussed taking a stake in CRML

 (Reporting by Tharuniyaa Lakshmi, Yagnoseni Das in Bengaluru)

 ((tharuniyaa@thomsonreuters.com))