Critical Metals Advances Greenland Rare Earth Mine with Key Environmental Approvals

Critical Metals Secures Environmental Approvals at Tanbreez

Critical Metals (Nasdaq: CRML) has achieved a major milestone at its Tanbreez project in southern Greenland. The company received environmental approvals for geochemical test work and the Hill area mine closure plan. The approvals, issued by Greenland’s Environment Agency for Mineral Resource Activities (EAMRA), follow submissions prepared by Danish consultancy NIRAS.

CEO Tony Sage highlighted that fast approval reflects both Greenland authorities’ efficiency and the consultancy’s professional work. He added that these approvals bring Critical Metals closer to commencing mining operations. Only a few remaining approvals for the mine and specific activities are still pending.

As a result of this progress, Critical Metals’ shares rose nearly 3% to $11.26, boosting its market capitalization to $1.33 billion. This demonstrates investor confidence in the company’s strategic positioning in the rare earth market.

Tanbreez: One of the World’s Largest Rare Earth Deposits

The Tanbreez project contains at least 45 million tonnes of rare earth resources across two zones: Hill and Fjord. About a third consists of heavy rare earths, crucial for defense and clean energy technologies. This makes Tanbreez one of the largest deposits of its kind globally.

Critical Metals’ preliminary economic assessment reports a net present value (NPV) of approximately $3 billion and an internal rate of return (IRR) of 180%. Initial production targets 85,000 tonnes of rare earth oxides per year, with modular expansions aiming for 425,000 tonnes. The orebody spans 8 km by 5 km, representing only 1% of the total 4.7-billion-tonne host rock, leaving room for further resource expansion.

Exploration continues in both zones to support a bankable feasibility study, underscoring the company’s phased growth strategy and long-term production potential.

SuperMetalPrice Commentary:

Critical Metals’ environmental approvals mark a pivotal step toward Greenland becoming a critical rare earth supplier. The project’s focus on heavy rare earths positions the US and allies to reduce dependency on China. With significant NPV and IRR metrics, Tanbreez is set to influence global rare earth markets. Investors and industry players should monitor production milestones closely, as modular expansions could reshape supply chains for defense and clean energy applications.