U.S.-based GreenMet has announced a partnership with Critical Metals Corp for a vast rare earth element (REE) project Tanbreez in southern Greenland. This collaboration positions Tanbreez to become a pivotal supplier of heavy rare earth elements (HREEs) to North American and European markets, particularly for the defense and high-tech sectors.

The Tanbreez Project, owned by Critical Metals Corp and situated within Greenland's expansive 4.7 billion-tonne mineralized Kakortokite unit, represents one of the world's largest untapped HREE reserves outside of China. Notably, the site also contains gallium, a critical material recently subjected to export restrictions by China.

This partnership arrives amidst increasing geopolitical tensions, as the U.S. continues to pursue deals to secure domestic critical mineral supplies. The Tanbreez Project, boasting a diverse mix of high-value HREEs, zirconium, and niobium, has projected a $3.04 billion net present value (NPV) in its 2025 Preliminary Economic Assessment (PEA). With approximately 27% of its deposits consisting of heavy rare earths, Tanbreez is uniquely positioned to cater to the demands of U.S. and European industries.

"We are thrilled to partner with Critical Metals Corp to unlock one of the largest rare earth resources outside of China," stated GreenMet CEO Drew Horn. "As the only shovel-ready rare earth project in Greenland, Tanbreez represents a game-changing opportunity for both the Greenlandic economy and the critical minerals supply chain in North America and Europe."

The Tanbreez Project's location, featuring deep-water fjord access and proximity to existing infrastructure, facilitates efficient material transportation. Furthermore, a mining license secured through 2050 ensures long-term operational stability. The project's low-radiation profile and geopolitical safety position it as a reliable source of critical materials for Western nations.

Once operational, GreenMet aims to mine 500,000 metric tons annually of the rare earth-containing mineral eudialyte by 2026, solidifying its role in the global rare earth supply chain. This collaboration also holds significant potential for the Greenlandic economy, promising job creation, infrastructure development, and the growth of local industries.

In a move to address this vulnerability, the U.S. president recently invoked wartime powers to boost domestic production of critical minerals, including uranium, copper, potash, and gold, through financial support and investment. Furthermore, an executive order, declaring a national energy emergency was signed, addressing high energy prices and diminishing capabilities against “hostile foreign actors”. The partnership between GreenMet and Critical Metals signifies a crucial step in the U.S. and its allies' efforts to secure a diversified and reliable supply of critical minerals.