Critical Metals Corp (CRML) is experiencing a rise in its stock price today, driven by recent developments at its Tanbreez rare earth deposit in southern Greenland. The company announced significant drilling results, revealing an exceptionally high concentration of gallium, a critical mineral used in the production of computer chips and other advanced technologies. This discovery is particularly noteworthy given the current geopolitical climate, where Western nations are seeking to diversify their supply chains away from China, which dominates global gallium production. The strategic importance of gallium has increased following China's export restrictions on the mineral in 2023, making Critical Metals' findings at Tanbreez a potential game-changer in the rare earth market.
The current price of Critical Metals Corp's stock is $6.81, reflecting a 1.49% increase from its previous close of $6.71.