Shares of Critical Metals Corp. surged nearly 10% in premarket trading on January 20, 2026, as investors repositioned ahead of escalating geopolitical tensions over Greenland. The rally reflects growing market anticipation that the company’s Tanbreez rare earth project could become a linchpin in Western supply chains, driven by strategic concerns over access to critical minerals essential for defense and clean-energy technologies.

President Trump’s announcement of stepped tariffs—starting at 10% on eight European nations in early February and rising to 25% by June—unless the U.S. secures Greenland reignited speculation about rare earth supply security. Greenland’s vast mineral deposits and autonomous status have positioned Critical Metals as a key player, with analysts noting that any shift in ownership or increased defense focus in the Arctic could accelerate progress on the Tanbreez project and spur further government support.

Last week, Critical Metals signed a non-binding term sheet with Saudi Arabia’s Tariq Abdel Hadi Abdullah Al-Qahtani & Brothers to form a 50/50 joint venture for initial refining of 25% of Tanbreez output. Management will host a webcast on January 22 to update investors on financing, permitting progress and the proposed processing agreement’s role in the company’s broader offtake strategy. Despite strong interest, the term sheet status, potential project financing delays and recent insider stock sale filings remain key risk factors for near-term share performance.