Molybdenum supply deals: Greenland Resources and ROGESA

What happened: On April 17, Critical Metals (CRML) surged 35.49% to close at $12.56 after Greenland approved the company's increased 92.5% stake and expanded operating control at the Tanbreez rare-earth project. Greenland Resources, meanwhile, signed a molybdenum supply deal with ROGESA, a joint venture of German steel producers Dillinger and Saarstahl.

Market impact: The Greenland approval boosted investor confidence in Critical Metals, driving up its stock price and potentially benefiting other rare-earth mineral explorers. The molybdenum supply deal between Greenland Resources and ROGESA ensures a stable source for German steel producers, which could positively impact the steel industry's supply chain.

What to watch next: Investors should monitor Critical Metals' earnings, expected in late May, for updates on the Tanbreez project's progress. Additionally, watch for any regulatory decisions regarding Greenland Resources' mining licenses, which are crucial for the molybdenum supply deal with ROGESA. Lastly, keep an eye on global steel production data, as it could indicate demand for molybdenum and, consequently, Greenland Resources' potential.