Rare earth shares gained on Wednesday. Critical Metals up 10%; UAMY up 6%; MP Materials up about 3%; The Metals up 2%.
Critical Metals Corp. has approved the start of construction for a multi-use storage and pilot plant facility in Qaqortoq, Greenland, supporting the development of its Tanbreez rare earth and critical metals project. The facility will be built under a turnkey contract with 60° North Greenland, covering all aspects from design and permitting to construction and commissioning.
The pilot plant is scheduled to be ready by May 2026. The company has also established a local office in Qaqortoq, highlighting its long-term commitment to operations in Greenland. The new Arctic-grade facility will feature specialized areas for pilot-plant operations, storage, and administration, and is seen as a cornerstone for advancing the Tanbreez project.