Critical Metals Corp. (Nasdaq: CRML) has received formal approval from the Government of Greenland to acquire a 70% interest in 60° North Greenland ApS, clearing a key closing condition for the transaction announced in March.
The approval grants Critical Metals permission to acquire a majority shareholding in the Greenland‑based construction, exploration and logistics company, providing indirect control of its associated land holdings and assets. The acquisition significantly enhances Critical Metals’ in‑country operational capability and infrastructure access in southern Greenland.
Critical Metals views the transaction as strategically important for the accelerated development of the Tanbreez rare earth project, where the company already holds a controlling interest. Direct access to Arctic logistics, field services and local expertise is expected to de‑risk execution and support parallel advancement of multiple development workstreams.
Tony Sage, chairman and CEO of Critical Metals Corp., commented, “Receiving approval from the Greenland authorities represents an important step toward completing our acquisition of 60° North. This outcome reflects our commitment to responsible development in Greenland and to building a secure, Western‑aligned supply chain for critical minerals. The transaction will further strengthen our operational capability as we advance the Tanbreez project.”
With approval now secured, Critical Metals expects to finalise the transaction in the near term, further strengthening its operational footprint in Greenland as Tanbreez advances toward development milestones.
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