Critical Metals Corp. (Nasdaq: CRML) announced that the Government of Greenland has formally approved the Mining Plan and Closure Plan for its Tanbreez Project in Southern Greenland, establishing a framework for operations through September 2050.

The approvals were signed by Múte B. Egede, Greenland's Minister for Foreign Affairs, Business and Mineral Resources, on September 29, 2026, in Nuuk. They were granted to the company's Greenlandic subsidiary, Tanbreez Mining Greenland A/S, under Exclusive Licence No. 2020-54, which was originally issued in 2020.

The approvals cover extraction of 19 elements, including heavy rare earths terbium, dysprosium and yttrium, magnet metals neodymium and praseodymium, and strategic metals zirconium, hafnium, tantalum and niobium.

According to the company's statement, the remaining step before construction can begin is obtaining activity-specific operating permits under sections 120 and 121 of the Greenland Mineral Activities Act, covering environmental management, marine transport, health and safety, and mineral export and sale. Construction may also require financial security to be in place.

Tony Sage, Chairman and Chief Executive Officer of Critical Metals Corp., said the approval "gives us a clear framework through 2050 to responsibly develop one of the world's largest heavy rare earth deposits, in partnership with the Government of Greenland and the communities of South Greenland."

The Tanbreez Project is located at Killavaat Alannguat, between Narsaq and Qaqortoq in Southwest Greenland.