Critical Metals (Nasdaq: CRML) announced Monday it has released an independent preliminary economic assessment (PEA) on the Tanbreez project in southern Greenland. 

Tanbreez is one of the largest rare earth deposits in the world with a 4.7 billion metric ton mineralized kakortokite unit.

The results of the PEA demonstrate that the Tanbreez project is expected to have a net present value (NPV) of approximately $3 Billion (approximately $2.8 billion to 3.6 billion at discount rates of 15% and 12.5%, respectively, before tax), with an internal rate of return (IRR) of approximately 180%.  

The NPV was calculated based off an initial mineral resource estimate (MRE) of 44.97 million metric tons of rare earth materials (indicated and inferred resources), which is approximately 1% of the 4.7 billion metric ton host rock. 

Earlier this month Critical Metals Corp released its technical report on the Tanbreez Project in compliance with Regulation S-K 1300. 

Highlights

The PEA outlines a phased growth strategy, with Initial production ~85,000 tpa REO; scalable to ~425,000 tpa with modular expansion. 

The coastal site has deep-water fjord access and proximity to existing infrastructure. The resource base of 45 Mt @ 0.40% TREO with 27% HREE (Dy, Tb, Y); open laterally and at depth. 

The mining license was granted through to 2050 due to low radioactivity mineralization and ESG-aligned development path. 

Tranbreez is one of the few Western-aligned heavy REE sources and is a potential supply partner for US/EU critical materials strategy. It is also positioned as a long-term supplier to US/EU critical mineral and defense sectors. 

“The release of the PEA for Tanbreez confirms the exceptional economic credentials of the project and fast tracks the development strategy for this game-changing rare earth deposit,” Critical Metals CEO Tony Sage said in a news release. 

“With significant macroeconomic tailwinds and global policy initiatives, including the U.S.’s recent executive order to tap the Department of Defense to expand the production of rare earths, the Tanbreez Project is expected to play an essential role in supporting an integrated Western supply chain. 

As the company continues to progress its verification work and garner key findings from third-party reports, it said it expects to conduct additional drilling campaigns and to complete a definitive feasibility study by the end of 2025. 

The PEA can be viewed here.  

Critical Metals stock was up 3.9% in late afternoon trading on the NASDAQ. The company has a $139.6 million market capitalization.