Mentioned:
Rare earth elements continue to be in high demand. And Critical Metals might have a massive discovery in Southern Greenland.
What’s happening:
- Critical Metals (NASDAQ: CRML) has announced a new Preliminary Economic Assessment of their Tanbreez project located in Greenland
By the numbers:
- The new Preliminary Economic Assessment has a Net Present Value of $3B USD
- Tanbreez contains 4.7 billion metric tons of rare earth bearing rock, however the Preliminary Economic Assessment is based only on roughly 1% of the total size of the deposit
- Critical Metals has publicly stated their initial production plans are for 85,000 tons of rare earth oxides annually, with the intent to scale up to 425,000 tons annually
Why it matters:
- The Tanbreez project is widely considered to be one of the single largest deposits of rare earth elements in the entire world
Going deeper:
- Critical Metals also just recently released historical drilling results from the Tanbreez project for the first time ever, which spanned more than 400 individual drill holes
