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Greenland just signed away the last 50.5% of the largest heavy rare earth deposit in the Western world. The yellow box on this map shows where it sits. As of April 30, it belongs to a Nasdaq-listed company.
China just lost its biggest chokehold on the United States.
Heavy rare earths are dysprosium, terbium, yttrium, holmium. They're the four elements that let a permanent magnet hold its field at 200°C inside an F-35, a Tomahawk, a Patriot battery, and an EV traction motor. Substitutes don't exist. China processes 99% of the global supply. The headline 85% number covers all rare earths combined. For the heavy ones, where the magnets actually need them, the share is 99%. That's been the single biggest piece of leverage Beijing has held over Washington for two decades.
Tanbreez is the answer. 27% heavy rare earth content. Mountain Pass in California runs 1-3%. Mt Weld in Australia runs 1-3%. Nothing else in the Western world comes close.
Critical Metals Corp now owns 92.5%. Greenland approved the final transfer on April 17. The deal closed April 30. The stock went from under $9 to $13.52 in three weeks. Texas Capital launched coverage with a $20 price target.
The orebody is 8 kilometers wide, 5 long, 400 meters thick, sitting inside the 1.16 billion year old Ilímaussaq Alkaline Complex. The mineralogy is eudialyte, which the industry wrote off as uneconomic because the metallurgy collapsed at extraction. Every prior Greenland rare earth project died on that exact problem. Independent testing at Fremantle Metallurgy in March showed 40% better refined concentrate recovery. The chemistry problem just got solved.
Logistics are stacked. License valid until 2050. Deepwater fjord shipping into the North Atlantic year-round. New international airport 12 km from site. A $120 million EXIM Bank letter of intent already in. Pilot plant commissioning this month. First production targeted for 2028, scaling 85,000 tonnes per year up to 425,000.
Three-quarters of the concentrate is already pre-sold. The biggest piece is a 10-year offtake to Ucore in Louisiana, feeding directly into US defense magnet supply.
Greenland to Louisiana to the F-35. America just took the magnet supply chain back.

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