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Critical Metals Corp, a leading critical minerals exploration and mining company, announced that the Government of Greenland (Naalakkersuisut) has formally approved the Mining Plan and Closure Plan for the Company’s flagship Tanbreez Project in Southern Greenland – one of the world’s largest heavy rare earth deposits. The approvals build on the exploitation licence granted to Tanbreez in 2020 and set out how the mine will be built, operated and ultimately closed and rehabilitated over a period running through 2050.
The approvals were granted to the Company’s Greenlandic subsidiary, Tanbreez Mining Greenland A/S, under sections 77 and 80 of the Greenland Parliament Act on Mineral Activities and Exclusive Licence No. 2020-54, which covers the exploitation of minerals at Killavaat Alannguat, between Narsaq and Qaqortoq in Southwest Greenland. They were signed on behalf of the Government of Greenland by Múte B. Egede, Minister for Foreign Affairs, Business and Mineral Resources, in Nuuk on September 29, 2026.
Scope of the Approvals
The approvals cover the period from signing until September 8, 2050, and set out the 19 elements the Company may extract at Tanbreez once the remaining operating permits are in place: zirconium, hafnium, tantalum, niobium, lanthanum, cerium, praseodymium, neodymium, samarium, europium, gadolinium, terbium, dysprosium, holmium, erbium, thulium, ytterbium, lutetium and yttrium.
Of particular significance, the approved elements include the heavy rare earths terbium, dysprosium and yttrium – among the scarcest and most strategically important rare earths, used in high-temperature permanent magnets for electric vehicle motors, wind turbines and defense applications – together with the magnet metals neodymium and praseodymium.
The Mining Plan sets out how the Company will build and operate the mine, processing facilities, port and supporting infrastructure at Tanbreez. The Closure Plan sets out how the site will be decommissioned and rehabilitated at the end of its life, reflecting the Company’s commitment to responsible development in partnership with the Government of Greenland and the communities of South Greenland.
Tony Sage, Chairman and Chief Executive Officer of Critical Metals Corp, commented:
“Approval of the Mining and Closure Plans is a defining milestone for Tanbreez and for Critical Metals Corp. It gives us a clear framework through 2050 to responsibly develop one of the world’s largest heavy rare earth deposits, in partnership with the Government of Greenland and the communities of South Greenland. We thank the Government and the Mineral Resources Authority for their thorough review, and we now move forward with the specific operating permits that will take us to construction.”
Michael Hanson, Independent Director of Critical Metals Corp, added:
“The approval of the Mining and Closure Plans is an important step in de-risking Tanbreez. It gives investors and potential financing partners greater clarity on the path to development of one of the most significant rare earth projects outside of established supply chains.”
Path to Construction
The next step is to obtain the operating permits for specific activities at Tanbreez under sections 120 and 121 of the Act, covering areas including environmental management, marine transport, health and safety, and the export and sale of minerals. Construction can begin once these permits are granted and the required financial security is in place. The Company will provide further updates as these approvals progress.
About Critical Metals Corp.
Critical Metals Corp (Nasdaq: CRML) is a leading mining development company focused on critical metals and minerals, and producing strategic products essential to electrification and next-generation technologies for Europe and its Western world partners. Its flagship Project, Tanbreez, is one of the world’s largest rare earth deposits and is located in Southern Greenland.
The deposit is expected to have access to key transportation outlets as the area features year-round direct shipping access via deep water fjords that lead directly to the North Atlantic Ocean.