Critical Metals Corp. ( CRML ) shares are trading higher Friday following reports suggesting the company raised its stake in Greenland’s Tanbreez rare earth deposit.

Critical Metals stock is surging to new heights today. Why is CRML stock up today?

Critical Metals Expands Stake In Tanbreez Rare Earth Deposit

According to Bloomberg News, Critical Metals boosted its ownership in the Tanbreez project to 92.5% after acquiring the remaining 50.5% interest it did not already own from Rimbal Pty Ltd.

The increased stake gives the company majority control of the deposit, which contains rare earth elements such as terbium and dysprosium. These materials are used in consumer electronics and defense technology.

Critical Metals declined to comment on the report.

Tanbreez is described as one of the world's largest known rare earth assets, according to the company.

Critical Metals Stock Powers Higher

CRML Price Action: At the time of publication, Critical Metals shares are trading 19.74% higher at $11.10, according to data from Benzinga Pro.

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