Critical Metals Corp. (CRML) began construction of a multi‑use storage and pilot‑plant facility in Qaqortoq, Greenland, on January 7 2026. The project, part of the Tanbreez rare‑earth development, will house infrastructure for processing and storing high‑grade heavy rare‑earth concentrates. 60° North Greenland was awarded a turnkey design‑build contract, taking responsibility for design, construction, and commissioning, with the pilot‑plant section slated to be operational by May 2026.
The commencement of construction marks a pivotal de‑risking event for Tanbreez. The facility will reduce logistical costs by providing a local office and storage hub, a critical advantage in the remote Arctic environment. The Tanbreez project’s preliminary economic assessment estimates a $3 billion net present value and a 180% internal rate of return, underscoring the high upside potential that the company is now moving closer to realizing. By establishing on‑site infrastructure, Critical Metals is also positioning the project as a cornerstone of a Western critical‑mineral supply chain that seeks to lessen dependence on China.
CEO Tony Sage said the turnkey contract “provides us with a clear, structured pathway to deliver critical pilot plant infrastructure in a challenging Arctic environment. Establishing a permanent office in Qaqortoq further demonstrates our commitment to operating locally, responsibly, and efficiently as we advance Tanbreez toward development.” The contract transfers significant design, construction, and commissioning risk to 60° North, improving cost and schedule predictability for the company.
The project timeline is aggressive: the pilot plant is expected to be operational by May 2026, mining is targeted for 2027, and first production is projected for mid‑2028. The definitive feasibility study was due in Q4 2025, and the company holds a right to increase its ownership stake in Tanbreez to 92.5%. These milestones illustrate a clear path from development to commercial production, reinforcing investor confidence in the project’s execution capability.
Critical Metals is a development‑stage company with no current revenue; its valuation is driven by strategic optionality and geopolitical relevance. The Greenland location has attracted attention from U.S. and EU policymakers seeking secure critical‑mineral sources, adding tailwinds to the project’s strategic narrative. Headwinds include Arctic construction challenges, permitting timelines, and financing needs, but the company’s partnership with a seasoned contractor and its focus on local operations mitigate many of these risks.
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