The Trump administration is in talks to acquire an equity stake in Critical Metals Corp, giving Washington a direct interest in Greenland’s Tanbreez rare earth project — one of the world’s largest undeveloped deposits, four people familiar with the matter told Reuters
If completed, the deal would mark a significant political and strategic move for the United States, deepening its role in Greenland’s mineral sector — the same Arctic territory former President Donald Trump once proposed purchasing outright
Critical Metals, a New York–based company, acquired the Tanbreez project in 2024 for $5 million in cash and $211 million in stock, after the Biden administration successfully pushed for the sale to a Western buyer rather than a Chinese firm
The company has since applied for a $50 million grant under the Defense Production Act, a Cold War-era program that supports domestic production of materials essential for national security
