Critical Metals Secures License Extension for Tanbreez Rare Earth Mine in Greenland

Tanbreez License Extension Supports Rare Earth Development in Greenland

Critical Metals has secured an extension for the exploitation license of the Tanbreez Rare Earth Mine in Southern Greenland, granted by the Greenland Cabinet of Ministers. The updated license extends development deadlines to 2028, giving the company essential time to advance operations and finalize mine planning.

License Conditions and Local Collaboration

Under the new license terms, Tanbreez Mining Greenland must submit its exploitation and closure plans by 2025, along with financial security and a guarantee by June 30, 2026. Mining is expected to begin by the end of 2028. CEO Tony Sage emphasized strong support from local officials and communities, adding that the extension confirms alignment with Greenland’s socio-economic goals.

Resource Strength and Strategic Agreements

The Tanbreez site holds an estimated 4.7 billion tonnes of resource material, with over 27% classified as heavy rare earth elements (HREEs)—considered more valuable than light REEs. Following recent diamond drilling, all extracted samples were secured and partially sent to ALS Laboratory in Ireland for testing. In June 2024, Critical Metals signed an agreement to acquire majority control of Tanbreez from Rimbal, in a deal valued at up to $211 million.

Strategic Positioning for Western Supply Chains

Once operational, the Tanbreez mine is expected to supply rare earth elements to Western markets, providing an alternative to China-dominated supply chains. The license extension strengthens Critical Metals’ position in the rare earth sector and ensures compliance with regulatory and ESG requirements for future development.