Why Shares of Critical Metals Are Soaring Today
Key Points
Critical Metals plans on developing a rare-earth mining project in Greenland.
The company announced that it has approved the construction of pilot-plant facilities in Greenland.
This stock should only remain a potential buy for those comfortable with speculative investments.
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Off to an exceptionally strong start in 2026, Critical Metals (NASDAQ: CRML) stock ended yesterday's trading session more than 70% higher than where it was at the end of 2025. Shares of the rare-earth mining stock are continuing to rise today, thanks to an update that the company provided regarding its activities in Greenland.
As of 1:36 p.m. ET, shares of Critical Metals are up 11.2%, retreating slightly from their earlier rise of 18.3%.
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Development of a new rare-earth mining project takes another step forward
Critical Metals announced today that the company has green-lit construction for storage, housing, and pilot-plant facilities located in Greenland, where the company is developing the Tanbreez rare-earth and critical metals project.
According to Tony Sage, the CEO of Critical Metals, "Formally approving and initiation of construction in Greenland is a major step forward for [the company] and the Tanbreez project."
The company projects that Phase 1 of the Pilot Plant section of the facility will be operational by May 2026 at the latest.
Critical Metals characterizes Tanbreez as one of the world's largest deposits of rare-earth elements.
Is it too late to buy Critical Metals stock
The company's announcement regarding the approval of commencing construction activities in Greenland is certainly encouraging. At this point, however, only investors with a substantial risk tolerance should consider a position, as there's no certainty that the mining company will, in fact, succeed in developing the Tanbreez project.
Should you buy stock in Critical Metals right now?
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Scott Levine has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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