Critical Metals May Secure $120mn for Greenland REE Project

US Critical Metals

Financing Support for Greenland Rare Earth Development

Critical Metals has received a letter of interest from the US Export-Import Bank for up to $120mn in financing for its Tanbreez rare earth elements (REE) project in Greenland. The potential funding would cover feasibility studies, pre-production activities, and early mining operations. Repayment terms under consideration span 15 years, according to the company’s announcement.

The Tanbreez project requires an estimated $290mn in capital expenditure to reach initial commercial production, with capacity projected at 85,000 tonnes per year of rare earth material. Critical Metals plans to finalize a definitive feasibility study by the end of 2025, which will provide greater clarity on production volumes and timelines.

Strategic Expansion and Ownership Growth

Critical Metals aims to expand its stake in Tanbreez and diversify its portfolio with additional investments. In 2025, the company will invest $10mn in exploration to secure an option for an additional 50.5pc ownership, which would raise its total stake to 92.5pc. The project benefits from year-round access to North Atlantic shipping lanes through deep-water fjords in southern Greenland, a logistical advantage that supports export efficiency.

Beyond Greenland, Critical Metals also owns the Wolfsberg Lithium Project in Austria, which is scheduled to begin production between 2026 and 2027. This dual focus on rare earths and lithium highlights the firm’s role in supplying critical minerals for both energy transition and advanced manufacturing industries.

The Metalnomist Commentary

Critical Metals’ Greenland REE project underscores the strategic importance of diversifying global supply chains away from China’s dominance in rare earths. With U.S. financing support under consideration, the Tanbreez project could emerge as a cornerstone for Western REE supply security. If successfully developed, the combination of Greenland’s rare earths and Austria’s lithium positions Critical Metals as a significant player in the global critical minerals landscape.