Critical Metals Corp is a pre-revenue mining exploration and development company focused on two critical mineral projects: lithium in Austria and rare earth elements (REEs) in Greenland. The company has no producing mines and funds itself through equity issuances and a $15M advance payment from BMW. Critical Metals' Wolfsberg Project in Carinthia, Austria — wholly owned — is a lithium deposit targeting production of spodumene concentrate, the feedstock for battery-grade lithium hydroxide used in EV batteries. Wolfsberg has a completed feasibility study and a binding long-term offtake agreement with BMW. Critical Metals plans to mine spodumene concentrate in Austria, then convert it to lithium hydroxide at a planned joint venture plant in Saudi Arabia with Obeikan Investment Group, before delivering to BMW and other customers. Production is targeted for 2028 or 2029, subject to financing and approvals. Critical Metals' Tanbreez Project in southern Greenland — in which Critical Metals holds a 42% interest, with plans to increase to 92.5% — is one of the world's largest hard rock REE deposits, notable for its high concentration of heavy REEs (HREEs), which are used in high-performance magnets for EV motors, wind turbines, and defense systems. Tanbreez holds an exploitation license from the Greenland government and must commence mining by end of 2028. Both projects remain pre-production, require additional financing, and carry significant execution risk.
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