Critical Metals to Finalize 25% Offtake Deal for Greenland Rare Earth Project in Early 2026

Published: Jan 5, 2026 09:29

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[SMM Flash: Critical Metals Expected to Complete Supply Agreement for Greenland's Tanbreez Rare Earth Project in Early 2026] Critical Metals is expected to complete the signing of the remaining 25% of the offtake agreement for the Tanbreez rare earth project in Greenland in Q1 2026 and welcomes investment from the US government. The company has already pre-sold 75% of the project's planned production, with customers primarily from the US and Europe. To effectively mitigate geopolitical risks, the company intends to maintain diversified supply sources. Critical Metals plans to commence mining operations at the Tanbreez project in 2027, targeting the first production by mid-2028. The project's capital expenditure in Greenland is estimated at approximately $500 million, while the cost of downstream processing facilities could exceed $1 billion.

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