Critical Metals Corp. (CRML) shares skyrocketed by over 46% on Friday, marking the most significant rally since its market debut in February 2024. The upside follows a landmark regulatory approval from the Government of Greenland, which granted the company full operational and strategic control over the massive Tanbreez Mining project. The approval helps Critical Metals secure a 92.5% majority stake in one of the world’s largest rare-earth deposits outside of China.
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European Lithium Ltd. (EULIF) will retain a 7.5% stake in Tanbreez and hold 37.5% of Critical Metals.
Strategic Rare-Earth Asset with Global Importance
Located in Southern Greenland, the Tanbreez project contains eight key rare-earth minerals used in electric vehicles, wind turbines, advanced electronics, and defense technologies. The site also benefits from year‑round deep-water access via fjords that connect directly to the North Atlantic, a major logistical advantage for future exports.
The approval marks a major de-risking event for Critical Metals, giving the company the green light to speed up development at a time when Western nations are seeking alternatives to China-controlled rare-earth supply chains.
Financing and Production Timeline
Critical Metals has secured a $120 million letter of intent from EXIM Bank to support project development and financing. The company also approved a $30 million acceleration program to fast-track drilling, infrastructure work, engineering, and metallurgical testing.
Key milestones include the start of pilot plant operations in May, a 150‑tonne bulk sample program in June, first ore production targeted for late 2028 to early 2029, and initial concentrate exports expected by the third quarter of 2029.
Is CRML Stock a Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on Critical Metals’ stock based on two Buys assigned in the past three months. Further, the average CRML stock price target of $20.00 per share implies 49.37% upside potential.
