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Greenland

Tanbreez (Critical Metals Corp.)

A eudialyte-hosted rare earth deposit in kakortokite in southern Greenland, held under a 30-year exploitation license over 18 square kilometers. Its interest is the heavy rare earth share, approximately 27% of total rare earth oxides, and the low uranium and thorium content of eudialyte, which removes the radioactivity question that has constrained other Greenland rare earth projects. The offsetting difficulty is that eudialyte is refractory and forms silica gel on acid leach, which is what the company's metallurgical program addresses.

At a glance

Founded

2020 — The exploitation license, MIN 2020-54, was granted to Tanbreez Mining Greenland A/S in 2020 for a 30-year term. Critical Metals Corp. acquired its interest in two stages beginning July 2024, and was itself listed through the completion of a business combination with Sizzle Acquisition Corp. on February 27, 2024.

Headquarters

Killavaat Alannguat, Kujalleq, southern Greenland, near Qaqortoq. The license holder is Tanbreez Mining Greenland A/S; Critical Metals Corp. is incorporated in the British Virgin Islands and its releases are datelined Perth, Australia and Washington, D.C.

Ownership

Critical Metals Corp. (Nasdaq: CRML) holds 92.5%, reached when the Government of Greenland approved the transfer of the final 50.5% interest on April 17, 2026. European Lithium Ltd (ASX: EUR) holds the remaining 7.5%. An all-stock acquisition of European Lithium that would take Critical Metals to 100% was announced April 27, 2026 and is proceeding by court-approved schemes of arrangement under Australian law, with a shareholder vote set for October 22, 2026; it is not complete.

Stage

Early stage. A licensed deposit with a pilot plant under way and no final investment decision.

Listing

Nasdaq: CRML
Listed through its parent or partner. 92.5% Critical Metals Corp; 7.5% European Lithium (ASX: EUR).

Revenue

Not publicly disclosed. This company does not publish revenue and no named third party has published an estimate of it.
Pre-revenue. Critical Metals Corp.'s Form 20-F for the fiscal year ended June 30, 2025 states that it has not realized any revenues to date from the sale of heavy rare earth elements, lithium or any other critical minerals mined from its properties, and describes both Tanbreez and its Wolfsberg lithium project in Austria as at the exploration and evaluation stage.
Source

Capacity

Each date below links to the document the figure came from. A capacity figure with no source is not on this page.

Narrative

Tanbreez, also known by the Greenlandic toponym Killavaat Alannguat and the older Danish-era name Kringlerne, is a rare earth deposit in southern Greenland near Qaqortoq. The rare earths are hosted in eudialyte within kakortokite, a layered agpaitic rock. Exploitation license MIN 2020-54 covers 18 square kilometers for a 30-year term, and its grant was conditioned on government approval of an exploitation and closure plan and on an Impact Benefit Agreement with Kujalleq Municipality and the Greenland Self-Government. Critical Metals Corp. acquired 42% in July 2024 and reached 92.5% when the Government of Greenland approved the transfer of the final 50.5% on April 17, 2026; European Lithium Ltd holds 7.5%, and an all-stock acquisition that would take Critical Metals to 100% goes to a shareholder vote in October 2026. The only classified resource is 44.87 Mt at 0.38% TREO under S-K 1300, with an effective date of August 30, 2016, and heavy rare earths at approximately 27% of TREO. A preliminary economic assessment was published in March 2025; no feasibility study has been published. The Environment Agency for Mineral Resource Activities approved geochemical test work and the closure plan for the Hill area in November 2025, with the remainder of the mine and closure plan outstanding. The United States Export-Import Bank issued a US$120 million letter of interest for a 15-year term loan in June 2025. First ore is targeted for late 2028 to early 2029.

Where public sources disagree

• The production figures in the preliminary economic assessment of March 31, 2025 cannot be reconciled with the resource in the same document. The assessment gives approximately 85,000 t/yr of REO initially, scalable to approximately 425,000 t/yr, against a resource of 45 Mt at 0.40% TREO, which contains on the order of 180,000 t of TREO in total. At 85,000 t/yr the entire classified resource would be consumed in roughly two years, and at 425,000 t/yr in under six months. Whether the figures are concentrate or ore throughput rather than REO, or are drawn against the unclassified host rock rather than the resource, is not stated in any public source.
• Four different tonnages are published for the deposit and they are not equivalent. 44.87 Mt at 0.38% TREO is the classified S-K 1300 resource with an effective date of August 30, 2016. Approximately 130 Mt is a resource expansion target stated on April 17, 2026. 500 Mt is an exploration target stated on July 15, 2025. 4.7 billion metric tons is the kakortokite host rock unit, which the technical report summary describes as conceptual in nature and states does not indicate any certainty of hosting mineralization; the classified resource covers roughly 1% of it. The July 2025 release is headlined as a 500 Mt exploration target within 4.7 billion metric tons of TREO, which describes the host rock volume as though it were a rare earth tonnage.
• The exploration and expansion targets are published without the tonnage ranges, grade ranges and caveat language that JORC and S-K 1300 require for an exploration target.
• Resource tonnage is given as 44.87 Mt in the technical report summary dated March 12, 2025 and as 44.97 Mt in the preliminary economic assessment release dated March 31, 2025, nineteen days apart, with no explanation. TREO grade is given as 0.38% in the first and 0.40% in the second.
• A release of July 15, 2025 gives a mineral resource estimate for a Fjord Eudialyte Deposit of 22.56 Mt, 8.76 Mt Indicated and 13.8 Mt Inferred, roughly half the technical report summary total. No public source reconciles the two or states whether it is a sub-domain of the same deposit or a restatement.
• The heavy rare earth share is given on two different bases: approximately 27% of TREO in the technical report summary, and approximately 26% to 27% of TREO plus yttrium in a release of February 9, 2026. Since yttrium is itself usually counted as a heavy rare earth, whether it sits in the numerator, the denominator or both changes the figure.
• Individual dysprosium and terbium grades are not published anywhere. The technical report summary reports only aggregate TREO, and no drilling release, the preliminary economic assessment or any filing gives a Dy or Tb grade in parts per million or percent. This is the deposit's central investment case and the number behind it is not public.
• Two grant dates are published for the exploitation license: August 13, 2020 in the Greenland Mineral Resources Authority announcement, and September 8, 2020 in the technical report summary, which gives a 30-year term expiring September 7, 2050. The government note records that the license and the Impact Benefit Agreement required signature before entering force, which may account for the difference, but no source says so.
• Whether the license condition requiring government approval of an exploitation and closure plan by December 31, 2022 was satisfied is not published.
• Three schedules are published for the pilot plant: commencement in the second quarter of 2026 on December 11, 2025; commencement in May 2026 with a 150-metric ton bulk sample program in June 2026, on April 17, 2026; and Stage 1 completion targeted for August 2026 with footings under way, on June 2, 2026. No commissioning has been announced.
• Capital cost is given as US$290 million to initial production in the company release of June 16, 2025, and as US$800 million to US$1 billion by DefenseWorld on January 23, 2026, a figure not matched to any company release.
• A definitive feasibility study was said on June 16, 2025 to be expected by the end of 2025, and MINING.COM reported on September 2, 2025 that a bankable feasibility study was 70% complete for fourth-quarter submission. Neither has been published.
• MINING.COM reported on November 4, 2025, citing the preliminary economic assessment, that production could begin as early as the following year. The company's own target, stated April 17, 2026, is first ore in late 2028 to early 2029.
• A release of January 15, 2026 states that 100% of concentrate production is allocated under long-term offtake arrangements. The named counterparties account for approximately 35% — Ucore at about 10% and the Saudi joint venture at 25% — and no source names the counterparties for the remainder. A release of September 16, 2026 states that the Romanian refinery would process half of Tanbreez concentrate. Substantially all of the announced arrangements are non-binding.
• The refinery study of September 16, 2026 projects annual refinery revenue of US$1.8 billion to US$2.2 billion. The company labels these preliminary modeling figures subject to further engineering, metallurgical test work, market conditions, permitting and a final investment decision, and does not disclose who prepared the study.

Latest reports

Across these reports

Critical Metals remains pre-revenue; cash rose from US$7.3M to US$80.9M in the half year to 31 Dec 2025 while the net loss grew to US$120.4M, mainly on warrant revaluation, and it raised its Tanbreez interest from 42% to 92.5% in April 2026. The Tanbreez pilot plant target moved from May 2026 to August 2026, and a Definitive Feasibility Study is expected in 2026.

Stated dates

Figures are as the company reported them, linked to each report. This summarizes what changed between reports; it is not a view on the company or its shares.

Fact checks from the digest

Claims made about this company that the weekly digest has put against this atlas, newest first. The verdict and the working are here in full; the issue each came from is for subscribers.

1. narrower than claimed · Digest issue 008 · 12 October 2026

   Approved through 2050, and not yet allowed to start building

   “Formal mining approvals valid through 2050” is narrower than it reads.

   What was approved. The Mining Plan and the Closure Plan, signed 29 September 2026 and valid to 8 September 2050 — how the mine and its plant will be built, run, closed and rehabilitated.

   What was not. Construction, which by the release’s own account waits on activity-specific operating permits under sections 120 and 121 of the Mineral Activities Act and on a financial security of unstated size.

   What it rests on. A resource estimate effective August 2016, a PEA, and 0 reserves.

Sources

1. Technical Report Summary, Tanbreez Project (S-K 1300) — Critical Metals Corp. / Agricola Mining Consultants, via SEC (2025-03-12)
2. Preliminary economic assessment press release (Exhibit 99.1) — Critical Metals Corp., via SEC (2025-03-31)
3. Form 20-F, fiscal year ended June 30, 2025 — Critical Metals Corp., via SEC (2025-09)
4. Tanbreez is granted an exploitation license — Mineral Resources Authority, Government of Greenland (2020-08)
5. Greenland government approves transfer of final 50.5%, taking Critical Metals Corp. to 92.5% ownership — Critical Metals Corp. (2026-04-17)
6. US$120 million letter of interest from the Export-Import Bank of the United States — Critical Metals Corp. (2025-06-16)
7. Metallurgical test work results support refinery joint venture in Romania — Critical Metals Corp. (2025-12-11)
8. Ten-year Tanbreez offtake letter of intent with Ucore Rare Metals — Critical Metals Corp. (2025-08-26)
9. Refinery study: 99% dissolution of eudialyte concentrate into 19 products — Critical Metals Corp. (2026-09-16)
10. Merger with European Lithium advances to shareholder vote — Critical Metals Corp. (2026-09-15)

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