CRITICAL METALS LS-,005 Aktie

The stock of Critical Metals rose about 6% after the government of Greenland approved the acquisition of 70% of 60° North. The Ministry of Land and Infrastructure granted the permission, fulfilling a material closing condition of the transaction announced on March 23. The takeover is intended to strengthen operational capabilities in Greenland and support development of the Tanbreez rare earths project; the company expects a near-term closing. » Więcej na de.investing.com

The government of Greenland approved the transfer of the remaining 50.5% of Tanbreez Mining Greenland to Critical Metals, bringing its total stake to 92.5% and giving the company operational control of the Tanbreez project. Critical Metals secured a letter of intent from EXIM Bank for USD 120m and a USD 30m acceleration program to fund drilling, infrastructure and engineering. The project contains eight critical rare earth elements, offers year-round ship access and targets first ore production in late 2028/early 2029 with concentrate export in Q3 2029; pilot operations start in May and a 150-tonne bulk sample is planned for June. Independent tests showed a 40% increase in concentrate to a TREO value of 2.96%; European Lithium remains with a 7.5% stake in Tanbreez. » Więcej na de.investing.com

Metallurgical tests by Fremantle Metallurgy produced a refined concentrate containing 2.96% rare earth oxides (REO), about 40% higher than the historical 2.1% from 2016. All eight sought-after rare earth elements, including heavy REE, were recovered at rates above 85%; results were independently confirmed by Nagrom Metallurgical. Improvements to the magnetic separation process produced a higher-grade Eudialyt concentrate scheme. Critical Metals plans a new PEA, will commission a pilot plant in May 2026, and is preparing a 150-tonne bulk sample for June as well as pre-production deliveries to partners in the EU, Saudi Arabia and the USA. » Więcej na de.investing.com