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Published: November 10, 2026 |
Critical Metals Corp. said the government of Greenland 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 license 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, which covers the exploitation of minerals at Killavaat Alannguat, between Narsaq and Qaqortoq in Southwest Greenland.
“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 fovernment of Greenland and the communities of South Greenland,” said Tony Sage, chairman and chief executive officer of Critical Metals Corp.
“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,” added Sage.
The approvals cover the period of approval 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.
“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,” said Michael Hanson, independent director of Critical Metals Corp.
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.
The next step is to obtain the operating permits for specific activities at Tanbreez 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.
Critical Metals Corp. 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. Another key asset is the Wolfsberg Lithium Project located in Carinthia, Austria. The Wolfsberg Lithium Project is the first fully permitted mine in Europe and is strategically located with access to established road and rail infrastructure and is expected to be the next major producer of key lithium products to support the European market. Wolfsberg is well positioned with offtake and downstream partners to become a unique and valuable asset in an expanding geostrategic critical metals portfolio. With this strategic asset portfolio, Critical Metals Corp. is positioned to become a reliable and sustainable supplier of critical minerals essential for defense applications, the clean energy transition, and next-generation technologies in the western world.
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