US officials consider equity stake in Critical Metals Corp, Greenland, to boost access to rare earth minerals vital for tech and defense.
US policymakers explore investment in Greenland’s Critical Metals project to secure rare earths essential for EVs, electronics, and defense.
WASHINGTON: Trump administration officials have discussed taking a stake in Critical Metals Corp (CRML.O), four people familiar with the discussions told media, which would give Washington a direct interest in the largest rare earths project in Greenland, the Arctic territory that President Donald Trump once suggested buying.
If finalized, the deal would mark the latest political twist for the Tan breez rare earths deposit, which former President Joe Biden successfully lobbied to have sold to New York-based Critical Metals for far less than a Chinese firm was offering. Washington has recently taken stakes in Lithium Americas (LACTO) and MP Materials (MP.N), underscoring Trump's desire for the US. to benefit from growing production of minerals used across the global economy.
Details of the discussions about Washington's interest in an equity stake in Critical Metals have not previously been reported. The four sources declined to be named, citing the sensitivity of the negotiations.
"Hundreds of companies are approaching us trying to get the administration to invest in their critical minerals projects," a senior Trump administration official told Reuters in response to a request for comment. "There is absolutely nothing close with this company at this time."
Critical Metals did not respond to repeated requests for comment via email and phone. Greenland is a semi-autonomous part of Denmark and the Danish Embassy in Washington did not immediately respond to a request for comment.
Rare earths offer strong magnetic properties critical to high-tech industries ranging from electric vehicles to missile systems. Their importance is spurring an intense push for fresh supplies by Western countries looking to lessen their dependence on China's near total control of their extraction and processing.
