Mentioned:
Critical Metals has just landed another offtake deal. And this time it’s with a rare earth magnet producer in the United States.
What’s happening:
- Critical Metals (NASDAQ: CRML) has struck a new offtake deal with rare earth magnet producer REalloys in which Critical Metals will supply them with 15% of the annual rare earth element production from their Tanbreez Project located in Greenland
Why it matters:
- This is the second ever supply deal that Critical Metals has done, previously cutting an offtake agreement with Department of War backed Ucore Rare Metals (TSXV: UCU)
Going deeper:
- REalloys is one of the only companies in all of the United States of America who is focused on full cycle rare earth processing and has the capabilities to do rare earth extraction and separation all the way through to finished magnet production
- Critical Metals has been quickly solidifying their position as one of the most important publicly traded rare earth companies in North America, which has been fuelled by doubling their ownership stake in the Tabreez Project to 92.5% as well as just recently completing a $35M USD strategic financing round to advance exploration and drilling
