US GreenMet, Tanbreez Partner on Greenland Rare Earths

Critical Metals Corp

Strategic Collaboration Targets Heavy Rare Earth Elements Supply

US GreenMet and Critical Metals Corp have formed a partnership to develop the Tanbreez Project in southern Greenland. This project aims to strengthen the US and allied nations' access to heavy rare earth elements (REEs) critical for defense and high-tech industries.

The Tanbreez Project holds nearly 45 million tonnes of indicated and inferred rare earth materials. This represents about 1% of the mineralized host rock, offering long-term development potential. The site features deep-water fjord access and existing infrastructure, with a mining license granted through 2050.

A Geopolitically Strategic Asset for US Supply Chains

Critical Metals Corp acquired Tanbreez Mining Greenland for $211 million in June, securing control amid concerns about Chinese investment. The deal ensures that this rare earth resource remains aligned with Western supply chain interests.

Once operational, the project will support the US defense sector and advanced technology manufacturing. This aligns with broader national efforts to reduce dependence on Chinese rare earth supplies. GreenMet’s involvement signals a coordinated US push to secure critical minerals from politically stable regions.

Expansion into Broader Critical Mineral Markets

Critical Metals is also progressing a lithium spodumene project in Austria, targeting the European battery industry. This dual focus reflects increasing demand for rare earths and lithium, as energy transition policies accelerate.

Meanwhile, Greenland’s regulatory environment and proximity to Europe and North America offer logistical advantages. The Tanbreez site’s location and scale position it as a cornerstone of Western rare earth strategies moving forward.

The Metalnomist Commentary

The Tanbreez Project exemplifies how strategic mineral development is now a pillar of geopolitical competition. With the US racing to onshore or ally-source REEs, Greenland’s rare earth wealth could prove to be a decisive lever in decoupling from Chinese critical mineral dominance.

Chile Projects $83.2 Billion in Mining Investments Through 2033

Chile mining

Chile is poised to solidify its position as a global mining powerhouse with projected investments of $83.2 billion spanning 2024-2033.

Massive Investments in Mining Projects

The Chilean Copper Commission (Cochilco) unveiled its latest study highlighting a significant increase in mining investments for the coming decade. The forecast includes 51 mining projects, up from 49 in the previous study for 2023-2032, which projected $65.7 billion in investments. This growth signals Chile's commitment to bolstering its mining sector and enhancing its global competitiveness.

Key players in Chile's mining expansion include major domestic entities like El Abra, Antofagasta, and state-run copper miner Codelco, which collectively account for 64.5% of the total investment. International stakeholders are also playing a vital role:

• Canadian companies such as Teck, Capstone Copper, Los Andes Copper, and Kinross will represent approximately 10% of investments.
• Japanese corporations, including Sumitomo Metals and Mitsubishi Corp, will contribute 5.7%.
• Australian firms, spearheaded by BHP Billiton, will make up 5.2%.

Copper Production and Diversification

The influx of capital is projected to increase Chile’s copper production capacity by 2.23 million metric tonnes annually, adding to the 5 million tonnes produced in 2023, according to the US Geological Survey (USGS). This aligns with Chile’s status as the world’s largest copper producer.

Additionally, $4.7 billion of the investments will be allocated to 15 projects focusing on "metals other than copper," including lithium and gold. Chile already ranks as the world's second-largest producer of lithium, a critical material for batteries and renewable energy storage.

Driving Forces Behind the Investment Surge

This investment boom highlights Chile’s strategic approach to capitalizing on the global demand for essential minerals. Increased copper production will cater to infrastructure and green energy projects worldwide, while lithium investments target the surging electric vehicle and renewable energy sectors.

Cochilco’s report emphasizes the country’s appeal to global mining giants and underscores Chile’s robust regulatory framework and resource-rich landscape as key factors driving foreign investment.

Triple Flag Acquires Royalty on Tres Quebradas (3Q) Lithium Brine Project

Triple Flag

Canadian royalty firm Triple Flag Precious Metals has secured a 0.5% revenue royalty on the Tres Quebradas (3Q) lithium project in Catamarca, Argentina, for $28 million. This acquisition highlights the growing importance of securing lithium resources, driven by the surge in global demand for battery-grade materials.

The royalty agreement grants Triple Flag a share of the total revenue generated from the sale of lithium salts produced at the 3Q site. The seller, Lithium Royalty Corp, retains a 0.9% royalty on the project, maintaining its stake in the promising venture.

3Q Lithium Project Overview

The 3Q lithium project is fully owned and operated by Zijin Mining, a major Chinese precious metals producer. Currently under construction, the project is expected to begin operations in the second half of 2025, with an initial production capacity of 20,000 metric tonnes (t) per year of battery-grade lithium carbonate.

Zijin Mining acquired the 3Q project from Neo Lithium in 2022 for $770 million and has since expressed plans to expand its capacity to between 40,000-60,000 t/yr to meet rising global demand. The 3Q project employs a conventional brine extraction process involving evaporation and precipitation, with its process plant located in Fiambalá, Argentina. The project is fully permitted, positioning it as a reliable source of high-purity lithium carbonate for the EV and renewable energy industries.

Strategic Significance

The acquisition by Triple Flag underscores the increasing focus on royalty investments in critical minerals such as lithium, which are essential for electric vehicle (EV) batteries and renewable energy storage. This deal also highlights Argentina's growing prominence as a key player in the global lithium supply chain, alongside other major lithium-producing nations.