Critical Metals Corp. (CRML) and USA Rare Earth (USAR) were in the limelight on Monday following crucial developments that boost their rare-earth pipelines.
At the time of writing, CRML stock gained nearly 4% while USAR shares jumped 5% in pre-market trading.
Critical Metals is set to strengthen its presence in Greenland after announcing it would acquire a majority stake in construction, exploration, and logistics firm 60° North Greenland ApS. The deal adds new exploration assets while also supporting its Tanbreez rare earth project.
Separately, USA Rare Earth announced a sales and distribution agreement with Compass Diversified’s (CODI) unit, Arnold Magnetic Technologies. The partnership allows both companies to market each other’s rare earth magnet products. The two companies will work to produce magnets from samarium-cobalt (SmCo) and neodymium-iron-boron (NdFeB).
CODI shares jumped around 8%.
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