Critical Metals’ Tanbreez rare earths: project scale, offtake and capex lens for engineers
Reviewed by Joe Ashwell
First reported on MINING.com
30 Second Briefing
Critical Metals Corp’s share price jumped 23.6% in pre-market trading to $11.46, valuing the company at $1.4 billion, after Greenland approved the indirect transfer of the Tanbreez rare earth mining licence, allowing Critical Metals to move to a 92.5% stake, with European Lithium retaining 7.5%. The Tanbreez deposit at Killavaat Alannguat hosts a 45-million-tonne resource grading 0.40% total rare earth oxides, with 27% heavy rare earths (Dy, Tb, Y), and a March 2025 PEA valued the project at about $3 billion. A phased plan targets initial output of ~85,000 tonnes of rare earth oxides per year, scalable to 425,000 tonnes, backed by a 10-year offtake to Ucore’s Louisiana plant, a Qaqortoq pilot facility, and eligibility for up to $120 million in US EXIM financing.
Technical Brief
- Greenland’s “indirect transfer” mechanism keeps the Tanbreez Mining Greenland A/S licence holder unchanged while ownership shifts.
- The March 2025 preliminary economic assessment is based on a 4.7‑billion‑tonne resource envelope for valuation.
- Heavy rare earth content is concentrated in Dy, Tb and Y, directly targeting high‑value magnet supply chains.
- Critical Metals is advancing a full feasibility study, moving the project from PEA‑level assumptions to bankable design detail.
- A partnership with GreenMet, signed a year earlier, is structured to co‑develop mine and processing infrastructure.
- January approval of a multi‑use storage and pilot facility at Qaqortoq enables bulk sampling and process testwork in‑country.
- A 10‑year offtake tied to Ucore’s Louisiana plant provides defined downstream processing capacity outside Greenland.
- Eligibility for up to $120 million in US EXIM support signals potential access to concessional project finance for early phases.
Our Take
Earlier coverage of Tanbreez in February 2026 noted TREO grades typically between 0.35% and 0.61%, so the 0.4% TREO figure used in the March 2025 PEA valuation suggests the current economic case is built on mid-range rather than best intercepts, leaving upside if higher-grade zones can be preferentially mined.
Within our 91 keyword-matched rare earths pieces, few projects show a heavy rare earths fraction as high as the 27% reported at Tanbreez, which likely makes this Greenland asset strategically attractive to US and European buyers looking to reduce exposure to Chinese heavy magnet rare earth supply.
Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.
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