Critical Metals Corp. (CRML) received formal approval from the Government of Greenland to acquire a 70% interest in 60° North Greenland ApS, a local provider of construction, logistics, drilling, and project‑development services for mineral operations.
The approval satisfies a key closing condition of the March 23 transaction and expands CRML’s operational footprint in southern Greenland, where the company already holds a controlling interest in the Tanbreez rare‑earth project.
Adding 60° North gives CRML access to critical infrastructure and expertise that will support the development of Tanbreez and its planned processing plant in Romania, a joint venture with Nuclearelectrica, advancing a fully integrated rare‑earth supply chain for Western defense and clean‑energy markets.
The approval was a key driver of positive market reaction, with investors noting the strategic importance of securing local operational capabilities and accelerating the Tanbreez project.
CRML’s acquisition of 60° North is part of a broader strategy to consolidate its position in Greenland and to secure a supply chain that reduces reliance on China; the company also plans to acquire European Lithium Ltd., which would bring its ownership of Tanbreez to 100%.
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