Critical Metals Corp acquires the Tranbreez Mining Project

12th June 2024 Critical Metals Corp acquires the Tranbreez Mining Project

Binding agreement

The Critical Metals Corp. has made a press released where it informs that it has signed a binding agreement to acquire a controlling interest in the Tanbreez Greenland Rare Earth Mine. The Tranbreez Mining Project is considered as one of the largest rare earth deposits globally.

This $211 million acquisition marks first significant milestone, expanding portfolio with world-class asset. The Tanbreez Project is a foundational rare earth asset, that plays a crucial role for North America and Europe. With China holding over 90% of the rare earth market, this move positions the company an s key supplier of critical rwan materials for the Western world.

Key information

Exploitation License Granted: Fully permitted since 2020.

Massive Resource: 4.7 billion tons, focusing on high-value heavy rare earth elements (HREE).

Strategic Location: Southern Greenland, with excellent transportation infrastructure.

Sustainable Mining: Environmentally friendly with minimal harmful by-products.

Game-changer

Tony Sage the CEO indicates that: „Tanbreez is a game-changer for the West,” He has pointed out that: „This acquisition strengthens our commercial network in Europe and opens new opportunities in North America, supporting the green energy transition.”

With Tanbreez, Critical Metals Corp has probably unlock a reliable, long-term supply of critical minerals, bolstering national defense and next-gen tech development in the West.

Tanbreez Greenland

The Tanbreez Project is expected to have access to key transportation outlets as the project’s area features year-round direct shipping access via deep water fjords that lead directly to the North Atlantic Ocean. The outcropping ore body known as Kakortokite covers an area of 8 x 5 km and is approximately 400m thick.

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