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European rare earths developer Critical Metals has flagged additional upside for its flagship Tanbreez project in Greenland after its exploration team identified two high-grade areas that were previously not factored into its development strategy.in Tanbreez in June, hailing it as a potential “game-changing” mine project for North America’s rare earths supply chain. By total resource count, it is ranked the, consisting of 14 holes with a total cumulative length of up to 2,200 metres.
With the new information, Critical Metals said it will now mine the run-of-the-mill ore at 1.7-1.9% ZrO2, producing a concentrate at 10% ZrO2, 2.5% REO , 1.0% Nb2O5, and 0.15% Ta2O5 and HfO2 between late spring to mid-autumn, or approximately eight months of the year. During the winter months, it will enhance the cost-effectiveness of its development strategy by reducing labor and electricity usage while maintaining the same level of rare earth concentrate production.
Shares in Critical Metals gained 3.5% on the NASDAQ by midday trading to $6.45 apiece, with a market capitalization of $526.45 million. The company is a unit of European Lithium .Trillions needed to achieve net-zero by 2050 — Wood Mackenzie
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