Shares of Critical Metals Corp surged nearly 10% in premarket trading on January 20, 2026, as U.S. tariff threats on European nations and renewed focus on Greenland’s resource potential stoked investor interest. With a market capitalization of approximately $2.08 billion and a 52-week trading range spanning from $1.23 to $32.15, the company has already delivered a year-to-date return exceeding 154%. The rally underscores heightened speculation that Critical Metals’ Tanbreez rare earth project in southern Greenland will become a cornerstone of Western supply chains amid broader defense and technology competition.

Last week Critical Metals announced a non-binding term sheet to form a 50/50 joint venture with Saudi Arabia’s Tariq Abdel Hadi Abdullah Al-Qahtani & Brothers. Under the proposed agreement, 25% of Tanbreez’s output would be refined in Saudi facilities before shipment to the United States for downstream processing. Management believes this arrangement will accelerate offtake discussions and de-risk logistics, though the term sheet’s non-binding status and pending project financing remain key hurdles.

Investors are closely monitoring the January 22 webcast at 8:00 a.m. Eastern, during which Critical Metals’ leadership will update stakeholders on financing structures, permitting milestones, and project sequencing. Risk factors include potential dilution from future capital raises, the non-binding nature of the Saudi deal, and insider Form 144 filings indicating planned stock sales. These considerations will be critical as the company transitions Tanbreez from development toward first production.