Rare earth developer Critical Metals Corp. (Critical Metals) approved $30 million in funding to accelerate development of its Tanbreez rare earth project in Greenland. Tanbreez is one of the world’s largest known rare earth deposits.
The company said the funding would be used to advance drilling, infrastructure, engineering design, and mineral processing and metallurgical testing required for production. The move came as the US and its allies were building supply chains for critical minerals essential to electronics, national defense, and clean energy technologies.
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