Critical Metals Corporation approved to operate Tanbreez through 2050
The government of Greenland has formally approved Nasdaq-listed Critical Metals Corporation's Mining Plan and Closure Plan for the Tanbreez rare earths project, with the approval being valid through 2050.
The company now has a clear, 24-year framework to build, operate and ultimately rehabilitate the mine.
The approvals cover heavy rare earths terbium, dysprosium and yttrium, the magnet metals neodymium and praseodymium, and the strategic metals zirconium, hafnium, tantalum and niobium.
"The approvals give investors and prospective financing partners significantly greater clarity on the path to developing a Western-aligned source of heavy rare earths," says Critical Metals chairperson and CEO Tony Sage.
The Mining Plan sets out how the company will build and operate the mine, processing facilities, port and supporting infrastructure at Tanbreez, while the Closure Plan sets out how the site will be decommissioned and rehabilitated at the end of its life.
With tthese plans approved, the remaining gate to construction is the activity-specific operating permits under Section 120 and 121 of the Greenland Mineral Activities Act. The specific activities include environmental management, marine transport, health and safety and the export and sale of minerals.
Critical Metals plans an initial production throughput at Tanbreez of about 85 000 t/y, with potential modular expansion to 425 000 t/y.
First ore production is targeted for the fourth quarter of 2028 or the first quarter of 2029.
