Key Takeaways
- Critical Metals Corp (CRML) obtained regulatory clearance from Greenland’s Government to purchase an additional 50.5% interest in Tanbreez Mining Greenland, increasing total ownership to 92.5%
- European Lithium (EUR) maintains a 7.5% interest in Tanbreez while holding 37.5% equity in CRML
- The Tanbreez deposit hosts all eight critical heavy rare earth elements (HREEs) and benefits from accessible year-round deep-water port facilities
- CRML obtained a $120M letter of intent from EXIM Bank and initiated a $30M exploration and infrastructure development program
- The pilot plant is scheduled to commence operations in May 2026
Critical Metals Corp has obtained governmental authorization from Greenland to complete the acquisition of the outstanding 50.5% ownership position in Tanbreez Mining Greenland. This transaction elevates CRML’s aggregate ownership to 92.5%.
$CRML is up over 40% after saying Greenland approved its purchase of the remaining ~51% stake in Tanbreez lifting ownership to ~93%.
The approval removes a major overhang on the rare earth project with first ore targeted for late 2028 to early 2029. https://t.co/hAQAn3CROS pic.twitter.com/Mnk5Ox2gyL
— Shay Boloor (@StockSavvyShay) April 17, 2026
European Lithium (EUR), whose shares climbed 8.16% following the announcement, preserves a 7.5% ownership position in Tanbreez while maintaining its 37.5% equity stake in CRML.
Situated in southern Greenland, Tanbreez represents one of the planet’s most substantial rare earth mineral deposits. The site contains all eight critical heavy rare earth elements, such as dysprosium and terbium, which serve essential functions in military applications, renewable energy systems, and cutting-edge technology.
The asset possesses a logistical benefit that distinguishes it from competing deposits — uninterrupted deep-water fjord connectivity to the North Atlantic, facilitating efficient maritime transport compared to other isolated locations.
Development Timeline
The regulatory green light from Greenland’s Government eliminates what CRML chairman Tony Sage characterized as the “most significant structural overhang” facing the asset. From an operational standpoint, it provides CRML with management authority and an unobstructed pathway toward commercial production.
Sage stated: “Tanbreez is no longer a future project — it is a project in development.”
The organization achieved a metallurgical advancement in March 2026 that enhanced concentrate quality levels. Additionally, it completed the acquisition of 60° North Greenland, a strategic transaction intended to bolster local operational capabilities.
CRML has augmented its advisory board composition and initiated a $30M program concentrating on drilling activities and infrastructure enhancement. A letter of intent valued at $120M from EXIM Bank has been obtained to finance these initiatives.
The pilot plant is projected to begin operations in May 2026.
European Lithium’s Strategic Position
European Lithium’s minority ownership maintains its involvement without assuming operational responsibilities. Its 7.5% interest in Tanbreez combined with its 37.5% stake in CRML enables participation in value creation while Critical Metals assumes development obligations.
EUR trades on the ASX and has gained 48.39% year-to-date, with average daily turnover approaching 9 million units. Current technical indicators suggest a buy rating.
The revised ownership arrangement provides CRML and EUR with collaborative operational authority over the Tanbreez asset moving forward.
CRML intends to persist in developing Tanbreez through additional drilling campaigns, pilot facility operations, and refreshed economic evaluations in preparation for the May 2026 pilot plant commencement.
