Critical Metals stock surges 13% on Greenland mining approval

Critical Metals Corp. (NASDAQ:CRML) stock surged 13% on Monday after the company announced it had received formal mining approvals from the Government of Greenland for its Tanbreez Mine. The approvals, granted to Tanbreez Mining Greenland A/S, cover the extraction of 19 critical elements, including rare earths and magnet metals, and are valid through 2050.

The Mining Plan and Closure Plan outline the construction, operation, and decommissioning of the mine and its associated facilities. The next step before construction begins will be obtaining specific operating permits under the Greenland Mineral Activities Act. This approval follows the company's ownership of the Wolfsberg Lithium Project in Austria, which is the first fully permitted mine in Europe.