Name of the Project
Tanbreez rare earths project.

Location
Southern Greenland, near Qaqortoq, with access to deep-water fjords.

Project Owner/s
Critical minerals developer Critical Metals Corp (92.5%) and European Lithium (7.5%). The project is held through Tanbreez Mining Greenland A/S.

Project Description
The project entails developing the Tanbreez heavy rare earths deposit to produce eudialyte concentrate. 

A March 2025 preliminary economic assessment (PEA) considered an initial mineral resource of about 45-million tonnes and a 25-year mine life. 

The company envisages dry beneficiation at the Greenland site and refining of concentrate elsewhere. Under an existing term sheet, a proposed joint venture refinery in Romania is expected to receive 50% of Tanbreez concentrate production. 

The Romanian refinery is a separate proposed downstream facility and its projected product output is not Tanbreez mine output.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The March 2025 Tanbreez mine PEA estimated a pretax NPV of about $2.8-billion at a 15% discount rate to $3.6-billion at a 12.5% discount rate, and an IRR of about 180%. The company has said the mine PEA flowsheet requires updating. Separately, September 2026 preliminary modelling for the proposed Romanian refinery indicated an NPV at a 10% discount rate of about $4.5-billion, an IRR of about 55% and payback of about two years. These refinery figures are not Tanbreez mine economics and remain subject to further studies and validation.

Capital Expenditure
An updated capital expenditure estimate for the Tanbreez mine has not been stated. The proposed Romanian refinery has a separate preliminary Class 4 capital estimate of $1.85-billion.

Planned Start/End Date
Critical Metals targeted first ore production for late 2028 to early 2029 and concentrate exports in the third quarter of 2029 in its April 2026 update. These are targets, and a definitive mine completion date has not been stated. 

Latest Developments
Critical Metals announced on October 5, 2026, that Greenland’s government had approved the mining and closure plans. Signed on September 29, 2026, the approvals were granted to Tanbreez Mining Greenland A/S under its existing exploitation licence, issued in 2020, and are valid until September 8, 2050.

The approvals cover 19 elements, including terbium, dysprosium, yttrium, neodymium, praseodymium, zirconium, hafnium, tantalum and niobium. The mining plan covers the mine, processing facilities, port and supporting infrastructure. The closure plan covers decommissioning and rehabilitation.

Construction remains conditional on activity-specific operating permits under sections 120 and 121 of Greenland’s Mineral Activities Act and the required financial security. The permits cover environmental management, marine transport, health and safety, and mineral exports and sales.

Key Contracts, Suppliers and Consultants
Agricola Mining Consultants prepared the March 2025 Tanbreez PEA. NIRAS has worked with Critical Metals on planning geotechnical drilling surveys. The proposed Romanian refinery remains subject to an existing concentrate supply term sheet; named construction contractors for the refinery have not been stated.

Contact Details for Project Information
Critical Metals Corp, tel +1 631 802 2765 or email ir@criticalmetalscorp.com.