President Donald Trump’s escalating rhetoric on seizing Greenland and reigniting a trade war with Europe is creating anxiety worldwide, but it’s also drawing attention to New York-based Critical Metals and its massive rare earths mining project near the southern tip of the world’s largest island.
Critical Metals, which is developing the Tanbreez rare earths project, has seen its stock spike nearly 150% since the beginning of the year—and more than 280% in six months. It now has a market cap of over $2 billion.
Critical Metals CEO Tony Sage said his company is working amidst the madness to maintain strong relationships with the Trump administration, the E.U., and the local Greenland government without choosing sides. Ideally, he said, Greenland would win its independence from Denmark while strengthening business and military ties with the U.S.—but without being annexed by Trump.
“We’re being distracted, obviously, by all the media that’s going on at the moment,” Sage told Fortune in a Jan. 20 interview.
“In one way, it’s good, because obviously a lot of people now are realizing how big Tanbreez is and how important it is strategically for the U.S. But it’s bad that it creates uncertainty with the local people. You’ve seen the protests about what’s happening,” Sage said. “There is a little trepidation in Greenland with our local partners and our staff. It’s not causing us any delays right now but, if things escalate, that might cause us some delays.
