Greenland Mines shares extend rally as peers slip

Greenland Mines

22/09/2026 15:39

** Shares in Greenland Mines Ltd GRML.O up as much as 68% to $15.87 on Tuesday, adding to Monday's 230.5% surge, after the metals co said it aims to more than double its footprint in Greenland after the US, Denmark and Greenland said on Friday they agreed for the US to boost its military presence in Greenland
** Shares in GRML last up around 51%, at $14.30 after earlier touching highest level since June 18. 
** The miner announced Monday morning that it had applied to Greenland for a license to increase its control in the Sarfartoq rare earth and carbonatite district to 454 km² from 192 km²
** After rallying Monday other US-traded companies with Greenland exposure dipped on Tuesday. Critical Metals Corp CRML.O down ~6% at $8.77 after rising almost 39% on Monday. Greenland Energy GLND.O fell more than 2% to $2.81 after climbing 140% in prior session
** Trading in these shares has often been volatile since US President Donald Trump took office as he has repeatedly said the US must control Greenland - a self-governing Danish territory - for national security purposes. Friday's agreement allows for the US to develop a significant military presence in the Arctic island, while prohibiting US adversaries from building their own bases there
** YTD GRML still down ~2% while CRML shares are up ~26% and GLND, which started trading on Nasdaq in March, is down ~88% from its March 26 peak 
     

(Reporting by Sinead Carew)
((sinead.carew@thomsonreuters.com))