Critical Metals has approved a $30m programme to expedite the development of the Tanbreez heavy rare earth elements (HREEs) project in Greenland towards production.
The initiative focuses on one of the largest known rare earth deposits globally, with the start of ore production anticipated in late 2028 or early 2029 and concentrate exports by the third quarter of 2029.
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The company, which operates in the critical minerals mining sector, is responding to increased global demand for rare earth elements (REEs) driven by growth in electrification, renewable energy and advanced technology manufacturing.
It envisions Tanbreez as a significant source of HREEs for Western markets.
The $30m plan involves advancing exploration, infrastructure, engineering and metallurgical processes essential for transitioning Tanbreez from exploration to development stages.
These include a $12.5m investment in exploration by 2026, up to 6,000m of drilling, resource expansion from 45 million tonnes (mt) to approximately 130mt and bulk sampling for pilot plant feedstock.
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By GlobalDataAdditionally, around $15m will be allocated for infrastructure acquisitions in Greenland and Australia, along with advanced metallurgical testing and integrated engineering programmes conducted with international consultants.
These activities are contingent on approvals from the Greenland Government.
The acceleration plan builds on previous achievements by Critical Metals, including exploration campaigns in 2024 and 2025 that yielded high-grade assay results.
Furthermore, strategic discussions with partners in the US, Europe and Saudi Arabia aim to establish Western supply chains for REEs.
In June 2025, the company secured a $120m letter of interest (LoI) from EXIM Bank for project development and financing.
The 2026 field programme intends to expand the resource base and prepare Tanbreez for initial production stages.
Objectives include extensive drilling at the Hill Zone deposit, exploration in the Upper Fjord area, resource upgrades, geotechnical drilling for port development and bulk sampling for pilot plant processing.
Critical Metals CEO Tony Sage said: “The board’s approval of this $30m acceleration programme marks an important step forward in unlocking the enormous potential of the Tanbreez rare earth deposit.
“Over the past 18 months our team has systematically advanced the project through exploration success, strategic partnerships and infrastructure development.”
