Critical Metals (CRML) Stock: Greenland Approves 92% Acquisition of Tanbreez Rare Earths Project

TLDR

• Critical Metals Corp (CRML) has obtained authorization from the Greenland Government to acquire the remaining 50.5% of Tanbreez Mining Greenland, increasing its total interest to 92.5%
• European Lithium (EUR) maintains a 7.5% ownership in Tanbreez and a 37.5% share in CRML
• The Tanbreez site hosts all eight critical heavy rare earth elements (HREEs) and benefits from year-round access to deep-water shipping
• CRML obtained a $120 million letter of intent from EXIM Bank and initiated a $30 million infrastructure and drilling initiative
• Operations at the pilot plant are scheduled to commence in May 2026

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(SeaPRwire) –   The Government of Greenland has granted Critical Metals Corp permission to buy the final 50.5% stake in Tanbreez Mining Greenland, resulting in a 92.5% total ownership for CRML.

$CRML shares jumped more than 40% following the announcement that Greenland cleared the acquisition of the remaining ~51% of Tanbreez, boosting ownership to roughly 93%.

This regulatory green light eliminates a significant hurdle for the rare earth venture, which aims for initial ore production between late 2028 and early 2029. https://t.co/hAQAn3CROS pic.twitter.com/Mnk5Ox2gyL

— Shay Boloor (@StockSavvyShay) April 17, 2026

European Lithium (EUR) saw its shares climb 8.16% on the update; it keeps a 7.5% interest in Tanbreez and a 37.5% stake in CRML.

Critical Metals Corp., CRML

Situated in southern Greenland, Tanbreez is recognized as one of the planet’s premier rare earth deposits. It features all eight vital heavy rare earth elements, such as terbium and dysprosium, essential for advanced technology, clean energy, and defense applications.

Unlike many competing projects, this site possesses a logistical edge with year-round deep-water fjord access to the North Atlantic, facilitating easier transport compared to other isolated deposits.

Path to Production

Authorization from the Greenland Government clears what Tony Sage, chairman of CRML, described as the project’s “most significant structural overhang.” This move provides CRML with direct operational oversight and a more defined path toward full production.

Sage remarked: “Tanbreez has transitioned from a future prospect to a project currently in development.”

In March 2026, the firm achieved a metallurgical milestone that enhanced concentrate grades. Additionally, it purchased 60° North Greenland to bolster its regional operations.

CRML has grown its advisory team and started a $30 million drilling and infrastructure project. To support these efforts, the company secured a $120 million letter of intent from EXIM Bank.

The launch of pilot plant operations is anticipated for May 2026.

European Lithium’s Role

European Lithium’s minority status allows it to remain involved without the burden of daily operations. With a 7.5% share in Tanbreez and 37.5% of CRML, it stands to benefit from growth while Critical Metals manages the development process.

Listed on the ASX, EUR has gained 48.39% so far this year, maintaining an average daily volume of approximately 9 million units. Technical indicators currently suggest a buy rating for the stock.

Moving forward, the revised ownership framework establishes joint operational oversight of the Tanbreez project for both CRML and EUR.

CRML intends to further develop Tanbreez via drilling activities, pilot-scale operations, and refreshed economic evaluations leading up to the pilot plant’s May 2026 debut.