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Critical Metals Corp. (Nasdaq: CRML) ("Critical Metals Corp" or the "Company"), a leading critical minerals mining company, is pleased to announce the Austrian Government has again renewed the Wolfsberg license for a further 2 years despite incorrect media reports to the contrary.
Key Highlights
- The Austrian government renews the Wolfsberg mining license for a further 2 years.
- Lithium prices continue their rapid rise.
- A decision on whether to commence mining will be made by the end of 2026.
Critical Metals Corp., Chairman Tony Sage commented:
"We have recently met with Obeikan (our Saudi hydroxide plant partners) and agreed a framework for a ‘decision to mine' by the end of 2026 if prices remain robust and financing options are available."
The lithium sector has over the past 6 months shown a strong rebound, with prices for key lithium compounds surging significantly from early 2025 lows due to tightening supply dynamics and robust demand growth. Battery-grade lithium carbonate prices in China have climbed to around CNY 168,000–170,000 per tonne (approximately US$23,000–24,000 per tonne equivalent, based on recent spot and futures data), marking gains of over 40% in the past month and more than 100% year-over-year in some benchmarks. This follows a peak near CNY 180,000 per tonne in late January. Similarly, spodumene concentrate (6% Li₂O, CIF China) has traded around US$2,000–2,168 per tonne, recovering from prior subdued levels amid supply constraints and speculative momentum. These upward movements reflect a shift from earlier oversupply concerns toward a more balanced or deficit-leaning market.
The outlook for lithium prices remains positive for 2026, driven primarily by accelerating demand from battery energy storage systems (BESS) and the robotics and drone sectors, which is outperforming expectations and emerging as a major growth driver alongside electric vehicles. Analysts anticipate a narrowing surplus or even a small deficit in lithium carbonate equivalent, with forecasts pointing to sustained or higher prices amid capped new supply additions and geopolitical efforts to secure non-Chinese sources. Energy storage investments in major economies, combined with resilient downstream consumption, support optimism for continued price strength, positioning projects like our Wolfsberg lithium project to attract project financing.
About Wolfsberg
The Wolfsberg Lithium Project is a strategically located hard-rock lithium development in Carinthia, Austria, and is considered one of Europe's most advanced lithium assets. The project is designed to supply high-quality spodumene concentrate to the growing European electric vehicle and battery storage markets. Wolfsberg benefits from strong infrastructure access, a skilled regional workforce, and proximity to major automotive and battery manufacturing hubs. With established permitting progress and development studies completed, Wolfsberg is positioned to play a key role in strengthening Europe's domestic supply of critical battery materials and supporting the continent's energy transition.
About Critical Metals Corp.
Critical Metals Corp (Nasdaq: CRML) is a leading mining development company focused on Critical Metals and minerals, and producing strategic products essential to electrification and next generation technologies for Europe and its western world partners. Its flagship Project, Tanbreez, is one of the world's largest, rare-earth deposits and is in Southern Greenland. The deposit is expected to have access to key transportation outlets as the area features year-round direct shipping access via deep water fjords that lead directly to the North Atlantic Ocean.
Another key asset is the Wolfsberg Lithium Project located in Carinthia, 270 km south of Vienna, Austria. The Wolfsberg Lithium Project is the first fully licensed mine in Europe and is strategically located with access to established road and rail infrastructure and is expected to be the next major producer of key lithium products to support the European market. Wolfsberg is well positioned with offtake and downstream partners to become a unique and valuable asset in an expanding geostrategic Critical Metals portfolio.
With this strategic asset portfolio, Critical Metals Corp is positioned to become a reliable and sustainable supplier of critical minerals essential for defense applications, the clean energy transition, and next-generation technologies in the western world.
For more information, please visit https://www.criticalmetalscorp.com/.
Cautionary Note Regarding Forward Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements may include expectations of our business and the plans and objectives of management for future operations. These statements constitute projections, forecasts and forward-looking statements, and do not guarantee performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this news release, forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target," "designed to" or other similar expressions that predict or indicate future events or trends or that are not statements of historical facts. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.
Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements for many reasons, including the factors discussed under the "Risk Factors" section in the Company's Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission. These forward-looking statements are based on information available as of the date of this news release, and expectations, forecasts and assumptions as of that date, involve several judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Critical Metals Corp.
Investor Relations: ir@criticalmetalscorp.com
Media: pr@criticalmetalscorp.com
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/72fcdc20-b17a-4799-aee3-e05d8abfc130
https://www.globenewswire.com/NewsRoom/AttachmentNg/38a65654-8288-41a2-b855-a6adff83ac25
