On 30 April 2026, Critical Metals Corp. (Nasdaq: CRML) announced that it had completed its acquisition of Rimbal Ltd Pty’s remaining 50.5% interest in Tanbreez Mining Greenland A/S in exchange for 14,500,000 newly issued shares in Critical Metals Corp., representing a value of approximately USD 165 million based on the share price at the date of closing.
Tanbreez holds a licence to exploit rare earth elements in Killavaat Alannguat in South Greenland, one of the world’s largest known deposits.
Rare earth elements are used in components for electronics, batteries and technologies for the green transition, and the project is considered an important contribution to strengthening the western security of supply.
The sale to Critical Metals Corp. has been in progress since 2024 and has been divided into several tranches, with the completion of this final tranche being conditional, among other things, on approval from the Greenlandic authorities.
Gorrissen Federspiel has advised Rimbal and Tanbreez throughout the entire process.
Gorrissen Federspiel’s core team comprised partner Michael Meyer, Managing Counsel Hans Nikolaj Amsinck Boie, Capital Markets Counsel Emily Nordin and attorney Nicolaj Hirschsprung Schlyter.