Greenland approves indirect transfer of mining permit for Tanbreez rare earth project

Critical Metals

17/04/2026 10:47

COPENHAGEN, April 17 (Reuters) - Greenland has approved the indirect transfer of the mining licence for Tanbreez Mining after Critical Metals Corp CRML.O last year increased its stake in the rare earths developer, the Greenlandic ministry of mineral resources and business said on Friday.

The administration of U.S. President Donald Trump has discussed taking a stake in Critical Metals Corp, four people familiar with the discussions told Reuters last year, which would give Washington a direct interest in the largest rare earths project in Greenland, the Arctic territory that Trump wishes to control.

Critical Metals Corp in October last year gained the right to increase its stake in the Tanbreez project in Killavaat Alannguat in southern Greenland to 92.5%.

According to the Greenlandic ministry, an indirect transfer means that the ownership of the company holding the licence changes, while the licence itself remains registered with the same company.

U.S. and Danish officials in 2024 lobbied Tanbreez not to sell its project in Greenland to Chinese-linked firms, its CEO told Reuters last year.

Rare earths offer strong magnetic properties critical to high-tech industries ranging from electric vehicles to missile systems.

 (Reporting by Louise Rasmussen, editing by Terje Solsvik)

 ((Louisebreusch.rasmussen@thomsonreuters.com))