The search for new sources of gallium supply is becoming highly important. Now, there’s a big new discovery in Southern Greenland.
What’s happening:
- Critical Metals (NASDAQ: CRML) has announced they have found one of the world’s highest concentrations of gallium at their flagship Tanbreez Greenland Rare Earth Mine located in Southern Greenland
Why it matters:
- Tanbreez is already one of the largest discoveries of rare earth elements in the entire world and contains significant deposits of heavy rare earth elements as well as rare earth oxides
- Gallium has become of rising importance due to being an essential input for semiconductor manufacturing and the previous restrictions around gallium exports imposed by China
By the numbers:
- Critical Metals found 147 parts per million of gallium oxide in a zone that spans over 1 kilometre at the Tanbreez Greenland Rare Earth Mine
- Currently, 98% of the gallium production globally comes from China
Going deeper:
- Critical Metals is also advancing the first fully licensed lithium mine located within Europe, which led to their notable partnership with automaker BMW for the supply of battery grade lithium carbonate
