Shares of Critical Metals Corp. (NASDAQ: CRML) have risen sharply over the past month, gaining 123% according to S&P Global Market Intelligence data, with a nearly 20% increase this week.
The company announced this week a joint venture to establish a $1.5 billion rare-earth mineral processing facility in Saudi Arabia.
Critical Metals has received approval to begin construction of its Tanbreez rare-earth project in Greenland. The Saudi Arabian joint venture will serve as a long-term recipient for 25% of the project's output.
Partnership agreements have now secured offtake for all of the Tanbreez Project's rare earth concentrate production. This provides visibility on long-term revenue and ensures supply to strategic allies.
The Saudi Arabian processing facility will send all finished products to the United States for use in the military-industrial sector. Rare-earth elements play a vital role in advanced military technologies.
The Trump administration has raised national security concerns about Greenland and its vast reserves, sparking investor interest in Critical Metals stock. The company could become a key player in supplying rare-earth metals for the U.S. defense complex.