Critical Metals Corp. Secures 92.5% Stake in Greenland’s Tanbreez Rare Earth Deposit
Event summary
- Greenland government approved transfer of 50.5% stake in Tanbreez to Critical Metals Corp., bringing total ownership to 92.5%.
- European Lithium Ltd retains 7.5% interest in Tanbreez.
- Tanbreez contains all eight critical heavy rare earth elements (HREEs) with direct shipping access to North Atlantic.
- Critical Metals Corp. secured $120M EXIM Bank Letter of Intent for project financing.
- Pilot plant operations scheduled to commence in May 2026.
The big picture
The Greenland government’s approval solidifies Critical Metals Corp.’s control over one of the world’s largest undeveloped rare earth deposits, addressing Western supply chain vulnerabilities. With China dominating HREE production, Tanbreez’s strategic location and near-total ownership by a Nasdaq-listed company position CRML as a key player in the critical minerals sector. The project’s development will be closely watched as it progresses toward production, with implications for defense, clean energy, and advanced technology supply chains.
What we're watching
- Project Execution
- Whether Critical Metals Corp. can maintain its accelerated development timeline for Tanbreez, targeting first ore production by late 2028 to early 2029.
- Geopolitical Dynamics
- How the Western alignment of Tanbreez will impact strategic partnerships and offtake agreements with U.S., European, and allied nations.
- Operational Risks
- The pace at which metallurgical and drilling programs advance, particularly with the upcoming 6,000m drilling campaign and pilot plant feed generation.
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