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Greenland approves Critical Metals plan for Tanbreez rare earths

The Tanbreez project has an after-tax net present value of $2.1 billion at a 15% discount rate, and initial capital costs were estimated at $290 million in a March 2025 PEA.

Reported · Written up by our desk · Mining

Mining.com reports that Critical Metals (Nasdaq: CRML) received Greenland government approval for its mining and closure plans for the Tanbreez rare earths project, clearing a major hurdle toward construction.

The approval covers the project in southern Greenland, which ranks among the larger undeveloped heavy rare earth projects outside China, according to a preliminary economic assessment issued in March 2025.

That PEA estimated the project’s after-tax net present value at $2.1 billion using a 15% discount rate, and pegged initial capital costs at $290 million.

The outlet also notes that the company said the approval sets a development framework through 2050, while pointing to growing efforts by the U.S. and allies to build critical mineral supply chains outside China.

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