European Lithium (ASX: EUR) has confirmed that Critical Metals Corp. (NASDAQ: CRML) has secured 92.5% ownership of the Tanbreez Rare Earth Project in Greenland, following government approval to acquire the remaining 50.5% interest. The milestone, which will see European Lithium retain a minority stake in the latter project, gives Critical Metals Corp majority control over one of the world’s largest undeveloped heavy rare earth deposits.
Government Approval Unlocks Majority Ownership
The approval from the Government of Greenland enables Critical Metals to consolidate its position as the controlling stakeholder in the Tanbreez Project, with European Lithium retaining a 7.5% minority interest.
The transaction removes a key structural barrier and provides a clear pathway to advance the project toward development.
European Lithium Executive Chairman & Critical Metals Corp Chairman Tony Sage commented:
“This is a game-changing moment for Critical Metals Corp. and for Western rare earth supply security. Securing 92.5% ownership of Tanbreez, with the full support and approval of the Greenlandic Government, removes the most significant structural overhang on the project and provides the clarity to advance Tanbreez to production with confidence.”
Strategic Rare Earth Asset
The Tanbreez Project is considered one of the most significant rare earth deposits in the Western world, containing critical heavy rare earth elements essential for defence, clean energy, and advanced technologies.
Located in southern Greenland, the project benefits from access to deep-water shipping routes, supporting future development and export potential.
Positioned for Global Supply Demand
With increasing demand for secure, non-Chinese rare earth supply, the Tanbreez Project is strategically positioned to support Western supply chains. The consolidation of ownership strengthens the project’s development outlook and strategic importance.
Advancing Toward Development
With ownership now largely consolidated, the project is progressing through technical work programs and engagement with potential offtake partners, supporting its transition toward production.
Positioned for Growth
The milestone sees European Lithium retain exposure to a globally significant rare earth asset, positioning the Company to benefit from increasing demand for critical minerals and the ongoing development of the Tanbreez Project.
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