Latest news with #CriticalMetalsCorp
Yahoo
4 hours ago
- Business
- Yahoo
Critical Metals Corp Secures US$120,000,000 LOI for a 15-Year Term Loan From the US Federal Government Bank (EXIM Bank) for the Development of its Tanbreez Rare Earth Project in Greenland
Non-dilutive funding package expected to be sufficient to enable the Tanbreez Project to complete pre-production activities and commence mining NEW YORK, June 16, 2025 (GLOBE NEWSWIRE) -- Critical Metals Corp. (Nasdaq: CRML) ('Critical Metals Corp' or the 'Company'), a leading critical minerals mining company, today announced that it has received a Letter of Interest from the Export-Import Bank of the United States (EXIM), for a total non-dilutive funding package of $120 million. This funding package from the U.S's official export credit agency is expected to be used to develop the Tanbreez Project, one of the world's largest rare earth deposits located in Greenland. Based on preliminary information submitted by Critical Metals Corp for the Tanbreez Project, EXIM will consider financing up to $120 million of the project's costs with a repayment term of 15 years under EXIM's new Supply Chain Resiliency Initiative (SCRI). The amount of funding is expected to be sufficient for Critical Metals Corp to complete necessary technical and economic studies, pre-production activities, and begin mining at the Tanbreez Project. The Company expects that the Tanbreez Project will require $290 million in capital expenditure to bring it to initial commercial production. In its initial commercial production phase, the Company expects that the Tanbreez Project will be capable of producing up to 85,000 metric tons of rare earth material annually. '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 Tony Sage, CEO and Chairman of Critical Metals Corp. 'The Company appreciates the support of EXIM Bank and the US Federal Government as well as our Greenland partners in this major achievement. We are now razor focused to put Tanbreez into production as soon as possible.' In addition to continuing to progress its verification, de-risk the asset, and prepare for additional pre-production activities, including additional drilling, Critical Metals Corp expects to complete a definitive feasibility study by the end of 2025, which is expected to include important data, such as volumes and timeline estimates. In addition, the Company expects to invest $10 million in exploration expenses in Tanbreez in 2025 to have the option to acquire an additional 50.5% of the asset, bringing its total ownership to 92.5%. The proposed funding package may be eligible for special consideration under Section 402 of EXIM's 2019 reauthorization, which directs EXIM to take steps to mitigate the competitive impact of export support provided by the People's Republic of China and other covered countries and/or to advance the comparative leadership of the United States in Transformational Export Areas. The SCRI program is under The China and Transformational Exports Program (CTEP), which is an EXIM program established to help U.S. exporters compete with Chinese companies and ensure U.S. leadership in emerging technologies. Through CTEP, U.S. companies can benefit from reduced fees, extended repayment terms, and other tailored policies. 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 located 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 permitted 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 About the Export-Import Bank of the United States The Export-Import Bank of the United States (EXIM) is the nation's official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Learn more at 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 are not guarantees of 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 a number of 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@ Media: pr@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
21 hours ago
- Business
- Bloomberg
US Ex-Im Bank May Fund Greenland Rare Earths Mine, Reuters Says
The US Export-Import Bank is considering providing up to $120 million for a rare earths project by Critical Metals Corp. in Greenland, Reuters reported Sunday, citing a letter of interest.
Yahoo
7 days ago
- Business
- Yahoo
Critical Metals Corp Releases Additional High-Grade REE Results From Diamond Drilling at Tanbreez in Greenland
NEW YORK, June 09, 2025 (GLOBE NEWSWIRE) -- Critical Metals Corp. (Nasdaq: CRML) ('Critical Metals Corp' or the 'Company'), a leading critical minerals mining company, is pleased to publish for the first time the assay results of eleven deep diamond drill holes from the Tanbreez Project in Greenland drilled in 2007 and 2013 at the Fjord Deposit. Commenting on the assay results, Tony Sage, CEO and Executive Chairman of the Company, said: "I am further encouraged by the deep diamond drill hole results at Tanbreez, revealing exceptional assay results over wider and deeper mineralization. Tanbreez continues to yield consistent high-grade drilling results presenting the Company with a compelling opportunity to significantly increase and double our current Maiden Resource Estimate (MRE) with an exploration target of 500MT of rare earth material up from our previous target of 225MT.' 'This key technical work to uncover and update historical information, strategically positions us to advance our plans for the development strategy as we deepen our understanding of the potential of this world-class asset and the material it contains. Our exploration and in-country field crews are currently on the ground at Tanbreez organizing the forthcoming field season preparing for resource and exploration drilling. After recently announcing the MRE of ~45MT 0.38% TREO for the eudialyte component and 180 MT for the industrial mineral by-products of feldspar and arfvedsonite, together with previously announced robust economic results showing the NPV of US$2.4 ~US$3.0 billion on a 10% and 8% discount and an IRR of 180% before tax.' The Tanbreez Project is operated by Tanbreez Mining Greenland A/S and is currently under the ownership of Critical Metals Corp. (NASDAQ: CRML) (Critical Metals or CRML), which currently holds a 42% interest with the right to increase that to 92.5% interest, with European Lithium holding a 7.5% interest and Rimbal Pty Ltd a 50.5% interest. Next Steps The Company has applied to the Greenland MSLA for a Program of Works for the 2025 resource drilling programs aimed at upgrading the Inferred Resource to Indicated Resource category and extending the size of the Tanbreez Fjord and Hill Zone Deposits (See figure 7). The applications with Greenland authorities are well-advanced and the Company is preparing for the 2025 field season with drilling and exploration executives visiting the deposit from 30 May. The Company is currently re-assaying historical pulps stored in Perth and Greenland from some of the existing 2007, 2010, 2013 and 2024 drill, rock chip and bulk sampling for confirmation and check assay reconciliation. The pulp will be analyzed by ALS Metallurgical Laboratory in Perth Western Australia and the results will be published when they become available. Further updated historical assay results are expected soon. The first stage of the priority resource drilling program will target the Fjord Deposit containing the 23MT MRE footprint by extending drilling further to the north and east of the 16-diamond hole program from 2024. The average target depth will be 60m – 80m drilling through the mineralized kakortokite bearing REE and metal oxides and 5m into the basal unit sanitizing mineralisation from the uneconomic grade 'Black Madonna' unit. Critical Metals Corp will commence its 2025 drilling campaign following satisfactory drill results from the 2024 program with the remaining 15 holes assay. The Company expects to announce the results from the 2024 campaign shortly. . The second stage of the priority resource drilling program will target the Hill Zone Deposit containing 22.6MT MRE area by infilling drill lines between D306 -13 and DX-01 and DX-02 and DX-01 on the east to west margins over the current MRE footprint. The target depth will be limited to 150m, targeting continuous mineralisation to defined depth establishing a re-categorization of Inferred to Indicated Resource upgrade. The Company continues to evaluate all available data from the previous owner's database and will publish results upon third party and in-house consultation. Highlights – Newly Released Diamond Drill Hole Results The weighted average grade1- 0.43% TREO with 28% HREO plus 1.44% ZrO2. _____________________________ 1 Weighted average grade estimated: SUM (interval x grade) divided by SUM (interval) Diamond Drill Hole Interval metresGrade (TREO) % Grade (HREO) % Grade (ZrO2) DDH-07-06 47.65m at 0.38% TREO 28% HREO 1.35% ZrO2 DDH-07-07 99.33m at 0.43% TREO 28% HREO 1.50%ZrO2 DDH-07-08 118.37m at 0.49% TREO 29% HREO 1.79% ZrO2 DDH-07-09 72.96m at 0.51% TREO 29% HREO 1.90% ZrO2 DDH-07-10 133.61m at 0.41% TREO 28% HREO 1.54% ZrO2 DDH-07-11 247.75m at 0.33% TREO 27% HREO 0.82% ZrO2 DDH-07-12 76.50m at 0.41% TREO 29% HREO 1.40% ZrO2 DDH-07-13 79.12m at 0.46% TREO 27% HREO 1.23% ZrO2 DDH-07-14 240.89m at 0.48% TREO 29% HREO 1.57% ZrO2 DDH 13-011 60.50m at 0.49% TREO 27% HREO 1.93% ZrO2 DDH 13-016 38.95m at 0.49% TREO 28% HREO 1.93% ZrO2 Figure 1 – 30 May 2025 site inspection Fjord deposit drill hole collars DDH-07-06 to DDH-07-10. Mr Greg Barnes (Tanbreez Mining Greenland A/S), & Mr George Karageorge Company Chief Technical Officer. Highlights – Recently Released Diamond Drill Hole Results Today's announcement reports assay results confirming deep and highly mineralized TREO for each drill hole ranging from 0.33% to 0.51% with a weighted average of 0.43% TREO containing 28% HREO hosted within the vast Kakortokite rock and over the Fjord Deposit for the eudialyte component MRE of 22.6MT 0.43% TREO including 26% HREO (See Table 1).Table 1 - Recent Drill Hole Results (announced 18 March 2025, 28 March 2025, 12 May 2025 and 9 June 2025) – holes DDH-07-06 to DDH-07-10 were drilled from the same collar location BDL = Below Detection Limit NA = Not Assayed New Drill Hole Results Locations within the Fjord Deposit Area Today's announcement publishes new results for drill holes drilled through the Fjord deposit and extended below the Mineral Resource Estimate (MRE) for the Fjord deposit (see Nasdaq Press Release 13 March and 29 May 2025). The MRE assessed the eudialyte component of the kakortokite limited to the material above sea level. The deeper drill holes identified rare earth mineralisation at similar grades within the kakortokite unit below and within the MRE. Hole ID Easting Northing Elevation Dip Azimuth Total Depth DDH-07-06 452770 6748174 62 -45 232 99 DDH-07-07 452770 6748174 62 -60 232 111 DDH-07-08 452770 6748174 62 -45 322 171 DDH-07-09 452770 6748174 62 -45 52 168 DDH-07-10 452770 6748174 62 -45 142 150 DDH-07-11 452810 6748417 25 -80 160 249 DDH-07-12 452899 6748332 77 -90 0 78 DDH-07-13 453160 6747889 326 -45 200 85.2 DDH-07-14 453160 6747889 326 -60 290 243 DDH 13-011 452789 6748314 41 -90 -90 62 DDH 13-016 452840 6748225 64 -90 -90 68 Table 2 – New drill hole locations These drill holes drilled through the Fjord deposit and extended below the Mineral Resource Estimate for the Fjord deposit (see Nasdaq Press Release 17 March, 31 March and 19 May 2025). The MRE assessed the eudialyte component of the kakortokite limited to the material above sea level. The deeper drill holes identified rare earth mineralisation at similar grades within the kakortokite unit below the MRE. Deep Drill Hole Results The new deep hole results announced today present a compelling opportunity for the Company to increase the existing MRE over the Tanbreez Fjord Deposit with infill and extension drilling between all historical diamond and RC drill holes (see Nasdaq Press Release 17 March, 31 March and 19 May 2025). The MRE assessed the eudialyte component of the kakortokite limited to the material ). DDH-007-06, DDH-007-07, DDH-007-08, DDH-007-09, DDH-007-010, were drilled from the same location as a fan of holes into the kakortokite above sea level (except DDH-007-08 and DDH-007-10). DDH-007-12 was drilled between the fan of holes and the fjord coastline down to sea level and DDH-007-11 drilled to 21m below sea level. These holes were included in the MRE. DDH-007-08 and DDH-007-011 drilled below sea level. These holes confirmed the extension of the TREO mineralisation below the MRE. DDH-007-013 and DDH-007-14 were collared 264 metres above the fan of holes and confirmed extensions to the TREO mineralisation to the south of the MRE. DDH-13-011, DDH-13-016 were drilled between the fan of holes and DDH-007-11 and 12. Drill hole intervals were assayed for a full suite of rare earth oxides plus zirconium oxide, tantalum oxide, and niobium oxide (See table 3 and figures 4, 5, and 6)Figure 2 - Drillhole collar positions for the new deep diamond holes in the Fjord Deposit area with the average assay results from surface. The Fjord rare-earth deposit is contained within a mineralized Kakortokite host unit covering an area of approximately 5km x 2.5km and several hundred metres thick and estimated at 4.7 billion tonnes. two areas have been delineated at Fjord and Hill and subject to detailed exploration and resource estimation. The host unit has not been fully explored, and the estimate of the mass of the kakortokite host unit does not presume any certainty of hosting economic mineralisation in other areas. The MRE drilling examined the drill intersections from surface to sea level (0m RL) and prepared a mineral resource estimate based on the TREO and zirconium and niobium oxides within the kakortokite including eudialyte, feldspar and arfvedsonite components. Drill holes DDH-007-08, DDH-007-09, DDH-007-12, DDH-007-14, DDH-13-011and DDH 13-016 were terminated in kakortokite containing greater than 3000ppm TREO mineralisation at the bottom of the respective drillholes (see figure 2).Table 3 - Assayed intersections in the 2007 and 2013 drilling announced 3 - Deep drilling extending below the Fjord Mineral Resource Estimate with section lines Figure 4 - Deep drilling extending below the Fjord Mineral Resource Estimate – Section FFigure 5 - Deep drilling extending below the Fjord Mineral Resource Estimate – Section CFigure 6 - Cross section on Fjord Section A The Mineral Resource Estimate for Tanbreez at the Fjord and Hill Deposits The Company recently announced its MRE for the Tanbreez Project of 45MT Eudialyte containing 0.38% TREO including 27% contained HREO plus rare metal oxides (see Nasdaq Press Release 17 March, 31 March and 19 May 2025) and Table 2,3 and Figure 4). The MRE are classified as Indicated and Inferred Resources under the JORC Code 2012 and have been determined by drill density and number of drillholes, and samples utilized in grade estimation. A recent Addendum to the Eudialyte component added information on the by-products, 134 million tonnes of Feldspar and 134 million tonnes of Arfvedsonite. Eudialyte concentrate will be prepared in Greenland and exported to the USA or Europe for further processing. Feldspar and Arfvedsonite from the Tanbreez deposit will be processed in Greenland to form a concentrate for industrial applications and further processing will be required to meet off- take standards. TANBREEZ PROJECT Million TREO ZrO2 Nb2O5 Tonnes % % % TANBREEZ HILL Eudialyte Indicated Resource Upper 3.20 0.47% 1.72% 0.14% Lower 13.46 0.30% 1.11% 0.11% Total 16.66 0.33% 1.22% 0.12% Inferred Resource Upper 0.93 0.40% 1.48% 0.13% Lower 4.72 0.28% 1.04% 0.10% Total 5.65 0.30% 1.11% 0.11% FJORD DEPOSIT Eudialyte Indicated Resource 8.76 0.44% 1.63% 0.17% Inferred Resource 13.80 0.42% 1.55% 0.16% Total 22.56 0.43% 1.58% 0.16% Eudialyte Total Indicated Resource 25.42 0.37% 1.37% 0.13% Inferred Resource 19.45 0.39% 1.42% 0.15% Total 44.87 0.38% 1.39% 0.14% Table 3 MRE eudialyte component TANBREEZ PROJECT Industrial Mineral Components TANBREEZ HILL Feldspar Indicated Resource 33.00 Mtonnes Inferred Resource 11.00 Mtonnes Arfvedsonite Indicated Resource 33.00 Mtonnes Inferred Resource 11.00 Mtonnes FJORD DEPOSIT Feldspar Indicated Resource 18.00 Mtonnes Inferred Resource 28.00 Mtonnes Arfvedsonite Indicated Resource 18.00 Mtonnes Inferred Resource 28.00 Mtonnes Table 4 MRE details for feldspar and arfvedsonite The Company confirms that it is not aware of any new information or data that materially affects the information included in the Company's previous estimation of the feldspar and arfvedsonite resources in this announcement and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially 7 - Location of drilling in relation to the mineral resource estimate for indicated, inferred drill hole results and outcrop kakortokite at 8 - The Tanbreez Fjord and the Tanbreez Hill rare-earth mineral sites are hosted within a Kakortokite unit covering an area of approximately 5km x 2.5km, estimated at 4.7 billion tonnes of Kakortokite this does not indicate any certainty of hosting mineralisation 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 located 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 permitted 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, clean energy transition, and next-generation technologies in the western world. For more information, please visit 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 include, without limitation, statements regarding the net present value, economic viability and prospects of the Tanbreez Project, the expected rare earth metal supply located and recoverable in the Tanbreez Project, the timing and completion of additional studies and operations related to the Tanbreez Project, as well as financial position, financial performance, business strategy, expectations of our business and the plans and objectives of management for future operations. These statements constitute projections, forecasts and forward-looking statements, and are not guarantees of 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 a number of 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@ pr@ Photos accompanying this announcement are available at in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
29-05-2025
- Business
- Associated Press
Critical Metals Corp Announces Gross Proceeds of $2MM USD from the Exercise of Warrants Priced at $5.00 USD from Institutional Fund
NEW YORK, May 29, 2025 (GLOBE NEWSWIRE) -- Critical Metals Corp. (Nasdaq: CRML) ('Critical Metals Corp' or the 'Company'), a leading critical minerals mining company, today announced the exercise of outstanding warrants to purchase 400,000 ordinary shares of the Company at an exercise price of $5.00 per warrant. The warrants were initially issued to investors at the time of the consummation of the Company's initial public listing on Nasdaq. In connection with the exercise of the warrants, and pursuant to the terms of the original agreement entered into with the investors, the Company removed contractual restrictions on an additional 1,200,000 ordinary shares that were otherwise subject to forfeiture. In connection with the exercise of the warrants, the Company has received gross proceeds of approximately $2 million. Critical Metals Corp intends to use the net proceeds from the warrant exercise primarily to help advance the development strategies of its critical mineral projects in Greenland and Europe. 'We are pleased to announce the exercise of these warrants, which will provide Critical Metals Corp with additional capital to support our ongoing development efforts at our flagship Tanbreez Project in Greenland and the Wolfsberg Project in Austria,' said Tony Sage, CEO and Executive Chairman of Critical Metals Corp. 'We believe this transaction demonstrates investor confidence in our strategic direction and helps strengthen our balance sheet to advance key milestones at our world-class assets.' The warrants and the ordinary shares issued upon exercise were issued in reliance upon an exemption from the registration requirements of the Securities Act pursuant to Section 4(a)(2) thereof. 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 located 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 permitted 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 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 are not guarantees of 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 a number of 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: [email protected] Media: [email protected]
NDTV
30-04-2025
- Business
- NDTV
Amid Trump's Threats To Buy Greenland, A Quiet Visit By Team Of US Investors
Quick Take Summary is AI generated, newsroom reviewed. Donald Trump has expressed intent to annex Greenland and make it part of the US. Both Denmark and Greenland have denied Trump's proposal to purchase the island. US seeks to support Greenland's economy amid its push for independence. Washington DC: Donald Trump wants to annex Greenland one way or another. After trying to build diplomatic pressure over the last few months and failing at it, Washington is trying a new approach - a private sector delegation heading to Greenland this week. Its aim - to invest money, lots of it. The timing of the private sector delegation's visit comes on the heels of that of the Danish king, who is visiting the arctic island to show unity between Denmark and its former colony. The King of Denmark is still the Head of State of Greenland. Both Greenland and Denmark have rejected Donald Trump's plans to "buy" the arctic nation. The US President, however, has refused to rule out taking Greenland by military force if Denmark won't sell it. The US private sector now wants to explore investment opportunities in Greenland's vast natural resources, rich in rare earth minerals. To their luck, the leadership in the arctic nation has recently changed hands, with Jens-Frederik Nielsen being elected as the new prime minister. While Mr Nielsen has objected to any attempts being made by the United States to take over Greenland, he is also known to be a leader with pro-business views and aims to monetize the island-nation's resources. The American business team that will visit this week includes senior officials from mining firms like American Renewable Metals and Refacture, Critical Metals Corp, and Cogency Power. The delegation will be led by Drew Horn, CEO of GreenMet and former chief of staff for the Office of International Affairs at the Department of Energy during Donald Trump's first term as US President. The delegation will visit the Tanbreez mining deposit, one of the world's largest rare earths deposits. Questioned about the intent behind this move, Mr Horn told news agency Reuters that "I'm not trying to do anything crazy like orchestrate a purchase or acquisition of Greenland by the United States." It's "simply a traditional private sector business development," the former Trump aide added. Scientific exploration has revealed that Greenland has massive mineral deposits, potentially worth trillions of dollars. Of the mineral exploration that is currently being carried out in the arctic island, most are managed and operated by Canadian, British, and Australian firms. So far, the US investment in Greenland's mineral sector has been negligible. Greenland, which has been calling for full independence from Denmark, has been looking to boost its economy, and the US in keen to capitalise on it. Speaking about this, Mr Horn told Reuters that "Capitalization and legitimate private sector growth will facilitate greater collaboration in an independent Greenland backed by US private sector development." He went on to say that he believes Greenland's openness to US private sector investment will bolster its independence from Denmark and ensure a viable business model.
