The Government of Greenland has granted Critical Metals Corp authorization to purchase the outstanding 50.5% stake in Tanbreez Mining Greenland. This acquisition elevates CRML’s ownership position to 92.5%.
European Lithium (EUR), which experienced an 8.16% price increase following the announcement, maintains a 7.5% interest in Tanbreez while continuing its 37.5% ownership position in CRML.
Situated in southern Greenland, Tanbreez represents one of the planet’s most substantial rare earth mineral concentrations. The deposit encompasses all eight critical heavy rare earth elements, including dysprosium and terbium, essential materials for defense applications, renewable energy technologies, and sophisticated electronics.
The project benefits from a significant competitive edge through its year-round access to deep-water fjord facilities connected to the North Atlantic, offering superior shipping logistics compared to competing remote mineral deposits.
According to CRML chairman Tony Sage, the Greenland Government’s authorization eliminates what he described as the “most significant structural overhang” facing the project. This approval effectively grants CRML operational authority and establishes a clearer path toward commercial production.
Sage stated: “Tanbreez is no longer a future project — it is a project in development.”
The company achieved a significant metallurgical advancement in March 2026 that enhanced concentrate quality. Additionally, CRML completed the acquisition of 60° North Greenland, a strategic move intended to bolster local operational capabilities.
CRML has broadened its advisory board composition and initiated a $30M program concentrating on drilling activities and infrastructure development. Financing support through a $120M letter of intent from EXIM Bank has been arranged to fund these initiatives.
Pilot plant activities are projected to commence in May 2026.
European Lithium’s minority stake allows participation without bearing the full operational burden. Through its 7.5% stake in Tanbreez and 37.5% ownership in CRML, EUR gains exposure to potential value appreciation while Critical Metals shoulders the development responsibilities.
EUR trades on the ASX and has delivered a 48.39% return year-to-date, supported by average daily trading volume approaching 9 million units. Current technical indicators suggest a buy rating.
The revised ownership framework establishes joint operational oversight of the Tanbreez project between CRML and EUR moving forward.
CRML intends to advance Tanbreez development through ongoing drilling programs, pilot facility operations, and refreshed economic evaluations in preparation for the May 2026 pilot plant startup.
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