Critical Metals gains ground as Greenland approves Tanbreez mining plan through 2050

Critical Metals Corp. (NASDAQ: CRML) gained ground on Monday after Greenland approved the Tanbreez rare-earth project’s mining and closure plans through 2050, removing a major regulatory hurdle for one of the largest heavy rare-earth deposits outside China.

Signed by Greenland’s Minister and Member of the Parliament Múte B. Egede on September 29, 2026, the approvals cover operations through September 2050, providing a framework for roughly 24 years of permitted activity under the company’s current exploitation license.

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Critical Metals shares climbed up around 13% in morning trading before easing to a gain of about 4%, putting the stock on course to end a six-session losing streak.

The Tanbreez approval spanning 19 critical elements

The permits allow extraction of 19 critical elements such as heavy rare earths terbium, dysprosium and yttrium, alongside magnet metals neodymium and praseodymium. The list also includes zirconium, hafnium, tantalum, niobium, lanthanum, cerium, samarium, europium, gadolinium, holmium, erbium, thulium, ytterbium and lutetium.

The Mining Plan sets out the development and operation of the mine, processing facilities, port and supporting infrastructure in southern Greenland. The Closure Plan covers decommissioning and post-mining rehabilitation of the site.

Construction, however, cannot begin until the company secures activity-specific operating permits under sections 120 and 121 of the Greenland Mineral Activities Act. These permits will cover environmental management, marine transport, health and safety, and mineral export and sale.

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Independent Director Michael Hanson noted that the approvals help de-risk the project. “It gives investors and potential financing partners greater clarity on the path to development of one of the most significant rare earth projects outside of established supply chains,” he stated.

The approvals were granted to Tanbreez Mining Greenland A/S, Critical Metals’ Greenland subsidiary, under Exclusive Licence No. 2020-54. The license covers mineral exploitation at Killavaat Alannguat, located between Narsaq and Qaqortoq in southwest Greenland.

Tanbreez to add strategic weight to Greenland’s Arctic role

The development comes after a new Arctic security agreement signed by the US, Denmark and Greenland, allowing Washington a window for operational expansion at Pituffik Space Base and to establish additional defence areas. The pact seeks to counter growing Russian and Chinese influence in the region.

Tanbreez is located in a strategically important Arctic area for Washington. Its heavy rare earths are used in high-temperature permanent magnets for electric vehicles, wind turbines, aerospace and defence systems. The project therefore adds a supply-chain dimension to Greenland’s position between North America and Europe as the US seeks alternatives to China, which controls over 85% of global rare-earth refining and processing.

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Beyond Tanbreez, Critical Metals owns the Wolfsberg Lithium Project in Austria, which it describes as the first fully permitted mine in Europe.

Despite Monday’s share-price rise, retail sentiment on Stocktwits remained bearish over the past 24 hours, although some traders were more optimistic. Till this point in 2026, Critical Metals shares are down around 10%.