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    Critical Metals Secures US$120 Million Loan LOI for Tanbreez Rare Earths Project

    Gabrielle De La Cruz
    Jun. 19, 2025 01:45PM PST

    The funding will support pre-production, technical studies and early mining activities.

    Calculator and pen on scattered US dollar bills.
    baona / iStock

    Critical Metals (NASDAQ:CRML) got a boost on Monday (June 16), landing a letter of interest (LOI) for a non-dilutive US$120 million funding package from the Export-Import Bank of the US (EXIM).

    The funds would be used to advance its Tanbreez rare earths project in Southern Greenland.

    Touted as one of the world’s largest rare earths deposits, Tanbreez is expected to produce up to 85,000 metric tons of rare earth material annually, with more than 27 percent classified as heavy rare earth elements.


    “This is a tremendous milestone for Critical Metals Corp which highlights to the rare earths supply chain, Western Governments and investors that Tanbreez is a world-class asset that will provide mission-critical rare earth metals to counter China’s continued dominance,” said Critical Metals CEO and Chairman Tony Sage.

    The funding would support pre-production, technical studies and early mining activities. EXIM’s financing falls under its new Supply Chain Resiliency Initiative and comes with a 15 year repayment term.

    Critical Metals acquired a controlling stake in Tanbreez in June 2024 in a transaction valued at up to US$211 million. It expects the asset to require US$290 million in capital expenditure to advance to initial commercial production.

    The US$120 million from EXIM would support key early stage work at Tanbreez, including technical and economic studies, pre-production activities and the start of mining operations.

    The company is aiming to complete a definitive feasibility study by late 2025.

    Critical Metals also plans to invest an additional US$10 million in exploration this year, giving it the option to increase its ownership in the project to 92.5 percent through the acquisition of a further 50.5 percent stake.

    “We are now razor focused to put Tanbreez into production as soon as possible," said Sage.

    Don’t forget to follow us @INN_Resource for real-time news updates!

    Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

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    Gabrielle De La Cruz

    Gabrielle De La Cruz

    Writer

    Gabbie graduated with a journalism degree from Colegio de San Juan de Letran - Manila and has produced articles on a variety of topics, such as infrastructure, business and technology. Her creative portfolio includes written work on architecture, art and design. Gabbie covers the Australian market for the Investing News Network, focusing on the mining sector.

    When not in front of her desk, she is out scanning through vinyl records, exploring the international coffee culture and fighting for queer rights.

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    Gabrielle De La Cruz
    Gabrielle De La Cruz

    Writer

    Gabbie graduated with a journalism degree from Colegio de San Juan de Letran - Manila and has produced articles on a variety of topics, such as infrastructure, business and technology. Her creative portfolio includes written work on architecture, art and design. Gabbie covers the Australian market for the Investing News Network, focusing on the mining sector.

    When not in front of her desk, she is out scanning through vinyl records, exploring the international coffee culture and fighting for queer rights.

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