Why Is Critical Metals Stock Rising Today?

• Critical Metals shares rose over 4% after the miner received a key approval for its Tanbreez Project.
• The EAMRA approved geochemical test work reports, a major step toward starting the mining operations.
• Tanbreez is one of the world’s largest known rare-earth deposits, projected to contain over 27% of heavy rare-earth elements.

Shares of Critical Metals Corp. (CRML) rose over 4% on Tuesday after the company received a key approval for its flagship Tanbreez Project in Greenland.

Critical Metals announced that the Environment Agency for Mineral Resource Activities (EAMRA) has approved the geochemical test work reports for its Tanbreez Project. The approval marks a major step toward the start of mining operations.

The approval follows the company’s September submission through its subsidiary, Tanbreez Mining Greenland, which included a geochemical test report for the hill site, a comparison report, and the mine and closure plan. After review, EAMRA confirmed that all required geochemical testing has been completed successfully.

What’s Next?

Critical Metals’ next steps include securing approvals for the remaining sections of the mine and the closure plan, as well as activity-specific permits.

Tanbreez is one of the world’s largest known rare-earth deposits, projected to contain over 27% of heavy rare-earth elements. The site also offers a key supply chain advantage with direct shipping access to the North Atlantic Ocean.

The sector has been in the spotlight this year, being a central issue in the trade standoff between the U.S. and China. With Beijing controlling about 70% of global mining and nearly 90% of processing capacity, the White House has intensified efforts to boost domestic production by investing in firms such as Lithium Americas, MP Materials, Critical Metals, and Trilogy Metals.

How Did Stockwits Users React?

Despite the positive development, retail sentiment has stayed within the ‘bearish’ territory over the past 24 hours.

Not all users were bearish, however, with one recommending holding the stock until the company released a solid estimate of Tanbreez’s deposits.

The stock has gained 176% over the past three months, boosting year-to-date gains to more than 64%.

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