Tanbreez Rare Earth Project: Critical Metals Corp. Gains 92.5% Control in Greenland - News and Statistics

Apr 21, 2026

Critical Metals Corp. has received approval from the Greenland Government to acquire an additional stake in the Tanbreez Mining Greenland project. This approval increases the company’s ownership interest to 92.5%, solidifying its command over a major rare earth deposit.

European Lithium maintains a 7.5% interest in the Tanbreez project itself and a 37.5% stake in Critical Metals Corp. The development grants the two entities full operational control. The Tanbreez site, situated in southern Greenland, is noted for containing all eight essential heavy rare earth elements, which are vital for defense systems, clean energy, and advanced technology. Its location offers year-round shipping access through deep-water fjords, providing a logistical advantage.

The recent governmental approval is seen as removing a primary obstacle, thereby reducing project risks. Critical Metals Corp. has undertaken several initiatives to advance development. These include a metallurgical improvement achieved in March 2026 that enhanced concentrate grades, alongside the majority acquisition of a local entity to support operations. The company has also enlarged its advisory board and started a financing program aimed at speeding up drilling and infrastructure work. A letter of intent worth $120m has been secured to support these developments, with pilot plant operations anticipated to commence in May 2026.

In the context of urgent efforts to secure Western-aligned critical mineral supply chains, this approval strengthens the company’s role as a significant developer of heavy rare earth elements. Current plans are focused on progressing the project through further drilling, initiating pilot operations, and completing updated economic evaluations.

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