Rare earth minerals ©Rawpixel
Critical Metals Corp. (NASDAQ:CRML) shares rose 13% on Monday morning after the company received formal approvals from the Government of Greenland for the Mining Plan and Closure Plan covering its Tanbreez Project.
The approvals, signed by Minister Múte B. Egede on September 29, 2026, establish a framework for approximately 24 years of permitted operations under the project’s existing exploitation licence, which runs through 2050.
Tanbreez, located in southern Greenland, contains heavy rare earth elements and other critical minerals.
Approvals Cover 19 Critical Elements
The approvals cover the extraction of 19 elements, including the heavy rare earths terbium, dysprosium and yttrium, along with the magnet metals neodymium and praseodymium.
Other approved elements include zirconium, hafnium, tantalum, niobium, lanthanum, cerium, samarium, europium, gadolinium, holmium, erbium, thulium, ytterbium and lutetium.
The Mining Plan sets out how Critical Metals intends to construct and operate the mine, processing facilities, port and associated infrastructure.
The Closure Plan covers the eventual decommissioning and rehabilitation of the site following the end of operations.
Further Permits Required Before Construction
Critical Metals still needs to obtain activity-specific operating permits before construction can begin.
The permits, required under sections 120 and 121 of the Greenland Mineral Activities Act, cover areas including environmental management, marine transport, health and safety, and the export and sale of minerals.
The Mining Plan and Closure Plan approvals were granted to Critical Metals’ Greenlandic subsidiary, Tanbreez Mining Greenland A/S, under Exclusive Licence No. 2020-54.
The licence covers mineral exploitation at Killavaat Alannguat, located between Narsaq and Qaqortoq in southwest Greenland.
Critical Metals also owns the Wolfsberg Lithium Project in Austria, which the company describes as the first fully permitted mine in Europe.
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