REalloys Inc. (NASDAQ: ALOY) entered into a definitive long-term rare earth offtake agreement with Critical Metals Corp. (NASDAQ: CRML) covering 15% of monthly Phase 1 production from the Tanbreez Project in southern Greenland. The agreement was executed on May 20, 2026, according to a company statement.

The 15-year contract includes a ±5% per-delivery operational variance and replaces a previously announced non-binding letter of intent between the companies. Critical Metals has disclosed Phase 1 nameplate capacity of up to 15,000 metric tons of rare earth concentrate annually.

The agreement establishes market-referenced formula pricing with floor-price protection on specified payable elements. Certain payable percentages, recovery assumptions, and floor prices remain subject to finalization. The contract includes a five-year long stop date, after which either party may terminate if first commercial delivery has not occurred.

In April 2026, the Government of Greenland approved the transfer of the final 50.5% interest in Tanbreez Mining Greenland A/S to Critical Metals, bringing the company's total ownership of the Tanbreez Project to 92.5%. The deposit contains dysprosium and terbium, elements used in high-temperature permanent magnets for defense and aerospace applications.

REalloys operates additional supply relationships including a wholly-owned rare earth deposit in Saskatchewan, Canada, and partnerships with facilities in Montana, Brazil, and Kazakhstan. The company projects commercial-scale production of dysprosium, terbium, and neodymium metals beginning in January 2027.

"The Offtake Agreement with Critical Metals is a definitive contractual milestone for REalloys and a critical building block of our mine-to-magnet strategy," said Leonard Sternheim, Chief Executive Officer of REalloys.