Critical Metals to Acquire European Lithium for $835M, Gaining Full Control of Tanbreez Rare Earth Project

Published: Apr 28, 2026 17:18

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[SMM Rare Earth News] US critical minerals developer Critical Metals (CRML.US) signed a letter of intent on April 27 to acquire Australian Lithium (European Lithium) in an all-stock transaction valued at approximately $835 million. European Lithium held the remaining 7.5% equity in the Tanbreez project, and upon completion of the transaction, Critical Metals will obtain 100% control of the project. The project is one of the largest known rare earth deposits in the world, with total rare earth oxides of 28.2 million mt, containing over 27% heavy rare earth.

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