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Critical Metals Corp. Accelerates the Development of the Tanbreez Project With an Immediate $30 Million Strategic Program to Advance One of the World’s Largest REE Deposits Towards Production
NEW YORK, March 10, 2026 (GLOBE NEWSWIRE) -- Critical Metals Corp. (Nasdaq: CRML) (“Critical Metals Corp” or the “Company”), a leading critical minerals
About this update from Critical Metals Corp.
[{"type":"text","content":"NEW YORK, March 10, 2026 (GLOBE NEWSWIRE) -- Critical Metals Corp. (Nasdaq: CRML) (“Critical Metals Corp” or the “Company”), a leading critical minerals mining company, today announced that its Board of Directors has approved a $30 million acceleration program to de-risk and fast-track the development of the Tanbreez HREE Project in Greenland, one of the world’s largest known rare earth deposits. The strategic program will significantly advance drilling, infrastructure, engineering design and metallurgical programs, accelerating Tanbreez towards a target of first ore production in Q4 2028 or Q1 2029, with concentrate export beginning by Q3 2029. With global demand for rare earth elements rising rapidly due to electrification, renewable energy expansion, and advanced technology manufacturing, the Company believes Tanbreez has the potential to become the most important new sources of heavy rare earth elements for Western markets in decades. Major Strategic Acceleration Plan The newly board approved $30 million development program will accelerate the transition of Tanbreez from exploration toward development and production. Key components include: $12.5 million 2026 exploration and resource programUp to 6,000 metres of drilling with multiple diamond drill rigsResource expansion targeting approximately 130 million tonnes from 45 million tonnesBulk sampling programs to generate pilot plant feedstockApproximately $15 million in infrastructure acquisitions across Greenland and AustraliaAdvanced metallurgical test work with European refining partnersIntegrated engineering programs with international consultants These initiatives are designed to fast-track the geological, technical, and engineering workstreams required to support the project’s development timeline and are subject to Greenland Government approvals. Building on Recent Strategic Milestones The acceleration program builds on a series of major milestones achieved by Critical Metals over the past several years as the Company has rapidly assembled a globally significant critical minerals portfolio. Key Corporate and Project Milestones Successful exploration campaigns in 2024 and 2025, which delivered very high-grade assay results and reinforced Tanbreez’s potential as a long-life rare earth resource.The opening of a new international airport located just 12 km from the Tanbreez...