Critical Metals Sets Tanbreez Study Target for Late 2027
Critical Metals now owns all of the Tanbreez rare-earth project in Greenland after completing its acquisition of European Lithium, and plans to finish a definitive feasibility study in the fourth quarter of 2027. First ore production is targeted for late 2028 to early 2029, the company said.
By Money Talk·November 11, 2026·2 min read·3,239 reads
The company said Wednesday that it had about $264.5 million in cash after the merger. At the start of the year, Critical Metals held a 42% interest in Tanbreez. Greenland has approved the project’s mining and closure plans through September 2050, according to the company.
Critical Metals also signed a binding 15-year offtake agreement with REalloys covering up to 15% of Tanbreez concentrate production. It reported 194.2 million ordinary shares outstanding. Executive Chairman and Chief Executive Tony Sage said a further 45.5 million shares held by European Lithium have no voting, dividend or liquidation rights, addressing what he described as confusion over the share count.
The company’s strategic review of noncore assets is continuing. Options under consideration include partnerships, joint ventures, sales and spinouts. Sage said the company’s focus next year would be the Tanbreez feasibility study, operating permits and financing, while the review would determine the future of its other assets.
Critical Metals shares rose 2.3% to $5.96 in morning trading.
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