European Lithium Ltd (ASX:EUR, OTCQB:EULIF)’s 100% owned subsidiary Critical Metals Corp has moved to 92.5% ownership of the Tanbreez rare earths project in Greenland after securing government approval for the transfer of the final 50.5% interest in Tanbreez Mining Greenland A/S.
The approval marks a key ownership milestone for the company, giving it control of one of the world’s largest known heavy rare earth deposits and removing a major structural hurdle as it advances the project towards development.
European Lithium retains a 7.5% direct interest in Tanbreez and also remains a major shareholder in Critical Metals, holding 37.5% of the company.
Tanbreez’s southern Greenland location is strategically important as it hosts all eight of the heavy rare earth elements used in defence, clean energy and advanced technology applications.
The project also has a logistical advantage, with year-round shipping access through deep-water fjords to the North Atlantic Ocean, a factor that could support future development and export plans.
"This is a game-changing moment for Critical Metals Corp. and for Western rare earth supply security. Securing 92.5% ownership of Tanbreez — with the full support and approval of the Greenlandic Government — removes the most significant structural overhang on the project and provides the clarity to advance Tanbreez to production with confidence,” CRML chairman Tony Sage said.
“We are now progressing with momentum, supported by advancing technical programs, strong metallurgical results, and engagement with our offtake partners. Tanbreez is no longer a future project — it is a project in development.”
Strategic step in Western rare earth supply push
The increased ownership comes at a time when Western governments and manufacturers are seeking to reduce dependence on China for critical minerals supply.
By lifting its stake to 92.5%, Critical Metals gains clearer operational control and greater exposure to any future development upside at Tanbreez, positioning the project as a potential non-Chinese source of heavy rare earth supply for the US, Europe and allied markets.
The transfer approval also helps de-risk the pathway to production by resolving one of the project’s key ownership issues.
Critical Metals said the ownership change builds on a series of recent steps at Tanbreez, including metallurgical work, local infrastructure initiatives, drilling and engineering plans, and ongoing discussions with potential offtake partners.
With the Greenland government now approving the transfer, the company is in a stronger position to progress technical studies, financing discussions and broader development activities at the project.