Shares of Critical Metals Corp surged nearly 10% in premarket trading on January 20, 2026, as renewed debate over Greenland’s future refocused attention on rare earth supply chains. The rally reflects investor enthusiasm around the company’s Tanbreez project in southern Greenland, which is viewed as a strategic asset for Western access to critical minerals used in electric motors and defense applications. With a market capitalization exceeding $2 billion and a year-to-date gain north of 150%, the company has emerged as a key beneficiary of heightened political scrutiny over Arctic resource control.

Last week Critical Metals announced a non-binding term sheet with Saudi Arabia’s Tariq Abdel Hadi Abdullah Al-Qahtani & Brothers to form a 50/50 joint venture. Under the proposed arrangement, the partners would process a quarter of Tanbreez’s projected output in Saudi Arabia before shipping refined material to North America for further conversion. Management believes this partnership could streamline the company’s downstream integration, reduce supply-chain bottlenecks and bolster offtake discussions with manufacturers of permanent magnets and defense systems.

Investors are marking calendars for the January 22 webcast, when management will provide updates on project financing, permitting milestones and the timeline for moving Tanbreez into production. While concrete details on capital raising and joint-venture structuring are highly anticipated, significant uncertainties persist. The Saudi agreement remains non-binding, and potential financing shortfalls or regulatory delays could push back development schedules. Additionally, recent filings indicating insider sales have prompted questions about share-price support during the transition from development to commercial output.