Critical Metals to Buy European Lithium for $835 Million (4)

Critical Metals Corp. agreed to buy European Lithium Ltd. for about $835 million in a move that will give the US minerals exploration company full ownership of a giant rare earth deposit it’s trying to develop in Greenland.

The all-stock takeover comes less than two weeks after Critical Minerals bought another interest in its flagship Tanbreez project. Full control will enhance the ability of the company to raise funding and develop the deposit into a mine.

European Lithium shares jumped 58% in Sydney as of 10:26 a.m. local time after being up as much as 63% earlier. Critical Metals closed ...