Critical Metals Corp received approval from the Government of Greenland to acquire the remaining 50.5% interest in Tanbreez Mining Greenland. That brings CRML’s total 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), which rose 8.16% on the news, retains a 7.5% stake in Tanbreez and continues to hold 37.5% in CRML itself.
Tanbreez is located in southern Greenland and is considered one of the world’s largest rare earth deposits. It contains all eight essential heavy rare earth elements, including dysprosium and terbium, which are used in defence systems, clean energy, and advanced technologies.
The project has a logistical advantage that many rivals don’t — year-round deep-water fjord access to the North Atlantic, making shipping straightforward relative to other remote deposits.
The Greenland Government’s approval removes what CRML chairman Tony Sage called the “most significant structural overhang” on the project. In practical terms, it gives CRML operational control and a cleaner runway toward production.
Sage said: “Tanbreez is no longer a future project — it is a project in development.”
The company had a metallurgical breakthrough in March 2026 that improved concentrate grades. It also acquired 60° North Greenland, a move designed to strengthen local operations.
CRML has expanded its advisory board and launched a $30M programme focused on drilling and infrastructure. A letter of intent worth $120M from EXIM Bank has been secured to back those plans.
Pilot plant operations are expected to start in May 2026.
European Lithium’s minority position keeps it in the picture without the operational weight. Its 7.5% stake in Tanbreez and 37.5% holding in CRML means it participates in upside while Critical Metals carries the development load.
EUR is ASX-listed and up 48.39% year-to-date, with an average daily trading volume of nearly 9 million units. Its technical sentiment is currently rated as a buy.
The updated ownership structure gives CRML and EUR joint operational control of the Tanbreez project going forward.
CRML plans to continue advancing Tanbreez through drilling, pilot operations, and updated economic assessments ahead of the May 2026 pilot plant launch.
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