Trump announces a "framework" agreement for Greenland, rare earth developer Critical Metals (CRML.US) rises more than 5% before the market opens.

Notice that Critical Metals (CRML.US) rose 5.7% in pre-market trading on Thursday. As of the time of writing, the stock is up 4.52% in pre-market trading, at $15.96. Earlier, U.S. President Trump announced that he would no longer impose new tariffs on Europe that were set to begin on February 1, and he declared a "framework" agreement regarding Greenland. Critical Metals is currently developing the Tanbreez rare earth project located on Greenland. Since the beginning of this year, the company's stock price has more than doubled, reaching a market value of $1.8 billion. The company announced last week that it has signed a non-binding term sheet to establish a 50-50 joint venture with Tariq Abdel Hadi Abdullah Al-Qahtani & Brothers to build a rare earth processing plant in Saudi Arabia valued at up to $1.5 billion. Critical Metals stated that the term sheet outlines the development, financing, construction, and operation framework of the rare earth processing facility, aiming to create a fully integrated "from mine to processing" supply chain, including a long-term purchase agreement to supply Saudi Arabia with 25% of Tanbreez's rare earth concentrate production. The company disclosed on Wednesday that it has signed four non-binding purchase term sheets for the rare earth concentrate produced by Tanbreez.