Critical Metals stock surges 13% on Greenland mining approval

Investing.com -- Critical Metals Corp. (NASDAQ: CRML) shares rose 13% Monday morning after the company announced it received formal mining approvals from the Government of Greenland for its Tanbreez Mine, valid through 2050.

The Government of Greenland approved the Mining Plan and Closure Plan for the Tanbreez Project, one of the world’s largest heavy rare earth deposits located in Southern Greenland. The approvals, signed by Minister Múte B. Egede on September 29, 2026, establish a framework for approximately 24 years of permitted operations under the company’s existing exploitation licence.

The approvals cover the extraction of 19 critical elements, including the heavy rare earths terbium, dysprosium and yttrium, as well as the magnet metals neodymium and praseodymium. Additional approved elements include zirconium, hafnium, tantalum, niobium, lanthanum, cerium, samarium, europium, gadolinium, holmium, erbium, thulium, ytterbium and lutetium.

The Mining Plan outlines how the company will build and operate the mine, processing facilities, port and supporting infrastructure at Tanbreez. The Closure Plan details how the site will be decommissioned and rehabilitated at the end of its operational life.

The remaining step before construction can begin is obtaining activity-specific operating permits under sections 120 and 121 of the Greenland Mineral Activities Act. These permits cover environmental management, marine transport, health and safety, and the export and sale of minerals.

The approvals were granted to the company’s Greenlandic subsidiary, Tanbreez Mining Greenland A/S, under Exclusive Licence No. 2020-54, which covers mineral exploitation at Killavaat Alannguat, between Narsaq and Qaqortoq in Southwest Greenland.

Critical Metals Corp. also owns the Wolfsberg Lithium Project in Austria, which the company describes as the first fully permitted mine in Europe.

Original Article

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