Shares of U.S.-listed companies exposed to Greenland rose after the U.S. and Denmark reached a security agreement regarding the self-governing island.
Shares of Greenland Mines jumped 70%, to $4.81, in premarket trading Monday. Critical Metals' stock was up 27%, at $8.57, while Greenland Energy's stock more than doubled, to $3.05.
President Trump said Friday the U.S. and Denmark reached an agreement allowing for more American forces in Greenland. The governments of Greenland and Denmark, which has sovereignty over the island, confirmed they would sign the agreement during the United Nations General Assembly.
The deal stops short of the takeover that Trump has envisioned since the start of his second term, while still providing the U.S. with a permanent military presence on Greenland, The Wall Street Journal reported.
Greenland Mines welcomed the agreement late Friday, saying it represents an important step toward strengthening the long-term security of Greenland and the broader Arctic region.
"We applaud the U.S. and the governments of Greenland and Denmark for advancing a framework that strengthens security, deepens cooperation among longstanding allies and recognizes Greenland's importance to the future of the United States and the Western alliance," Bo Moller Stensgaard, president of Greenland Mines, said .
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