Mentioned:
One of the most important rare earth companies on Wall Street has just raised another funding round. And they’re planning to use it to advance their rare earth deposit in Greenland.
What’s happening:
- Critical Metals (NASDAQ: CRML) has raised $50M USD in a new equity financing round with a single institutional investor
Why it matters:
- Critical Metals' flagship Tanbreez Project located in Greenland which is estimated to contain billions of metrics tonnes of rare earth elements has come into major geopolitical focus following China just recently ramping up their export restrictions on rare earth elements and technology globally
Going deeper:
- Critical Metals has been rapidly raising strategic financing rounds lately, including just recently completing a $35M USD capital raise with a single institutional investor
- Multiple rare earth magnet producers have also started cutting new offtake deals with Critical Metals to secure rare earth oxides from the Tanbreez Project once it enters into full scale production, including both Ucore Rare Metals (TSXX: UCU) and REalloys
