Critical Metals inks another offtake deal for Tanbreez rare earth concentrate

Critical Metals (Nasdaq: CRML) announced Tuesday it has executed the term-sheet for creating a 50%-50% joint venture (JV) with Romanian state-owned Fabrica de Prelucrare a Concentratelor de Uraniu (FPCU). Critical Metals’ Tanbreez project in Greenland is one of the world’s largest heavy and medium rare earth deposits. Last month, CRML signed a letter of intent with US-based rare earth processor REalloys for a ten-year offtake agreement covering 15% of production from the project.  The FPCU term sheet provides CRML with long-term offtake rights for 50% of the entire Tanbreez concentrate production and outlines the development, financing, and commissioning to build and operate a rare earth processing plant in Romania — creating the first fully integrated mine-to-processing supply chain in the Western world, the company said.  CRML will supply 50% of the Tanbreez project’s premium rare earth concentrates to the Romanian JV for the full life of mine, ensuring a secure, NATO-aligned feedstock for high-value downstream European industries, it said.  The envisaged JV will establish a highly resilient Europe-centric supply chain, reducing reliance on China — which currently controls more than 80% of global rare earth processing — and protecting the EU against geopolitical vulnerabilities, the company said.  CRML will not be issuing either debt nor equity for this JV and will retain a 50% interest in the joint company on a carried interest basis and will have no capital requirements relating to capital expenditures to build the facility. Rare earth metals and advanced materials will be used for direct use within the European Union — strategically strengthening national security, advanced manufacturing, electrification, and defense technologies, CRML said. Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com