US Secures Tanbreez Foothold in Greenland Rare Earth Push

Critical Metals Corp (NASDAQ: CRML), a New York-based mining firm, has received formal approval from the Greenland government to acquire a 70% interest in 60° North Greenland APS, the entity controlling the Tanbreez project. This massive rare earth deposit at Greenland's southern tip ranks among the world's largest, rich in minerals essential for advanced technologies, defense systems, electric vehicles, and clean energy applications. The approval accelerates development, enhancing in-country operations, Arctic logistics, and access to deep-water fjords for year-round shipping to the North Atlantic. CEO Tony Sage emphasized responsible development and building secure Western supply chains, free from Chinese influence. This move revives US interest in Greenland, echoing past national security tensions, and pairs with a non-binding joint venture term sheet with Saudi firm Tariq Abdel Hadi Abdullah Al Qahtani & Brothers to refine 25% of Tanbreez output in the kingdom. This could position Saudi Arabia as a key non-Chinese hub for heavy rare earth refining, complementing a prior binding deal between Saudi Maaden, the US Defense Department, and MP Materials.

Amid these advances, REalloys (ALOY) emerges as a frontrunner in North American integration. Backed by a $200 million US Export-Import Bank letter of intent, it spans Hoidas Lake in Saskatchewan, offtake from Saskatoon's SRC facility (targeting late 2026 production), and a Euclid, Ohio plant-the only North American site with proven heavy rare earth metals, alloys, and magnets delivery to US Defense, Energy, and NASA. By early 2027, it aims for 525 tonnes of neodymium-praseodymium metal, 30 tonnes dysprosium oxide, and 10 tonnes terbium oxide annually, scaling to major heavy rare earth magnet capacity. New DFARS rules effective January 2027 will ban Chinese rare earths in US weapons, mandating domestic sourcing and insulating demand from price volatility.

Rare Earth Exchanges' May 2026 rankings highlight progress in Western mining but persistent midstream bottlenecks in separation, metallization, and magnet production. Lynas Rare Earths leads ex-China processing, with Energy Fuels, Neo Performance Materials (advancing heavy rare earths in Estonia), and MP Materials gaining ground. Magnet capacity remains thin outside China, with MP, Neo, and newcomers like Evolution Metals in South Korea. Heavy rare earths like dysprosium (now $930.70/kg, +105% YTD) and terbium are the new battleground, driving competitive offtakes. China's historical price crashes, like the 2010 Japan embargo spiking dysprosium to $2,300/kg, underscore its playbook, but policy shifts and integrations like MP's $500 million Apple deal for magnets and recycling signal resilience.

Geopolitically, USMCA evolves with Canada-Mexico pacts for offtake, price floors, and stockpiling against nonmarket actors. DOE's $140 million Rare Earth Demonstration Facility grant targets full-scale extraction and refining. NioCorp advances Elk Creek for niobium and rare earth byproducts. These developments collectively erode China's 85% rare earth processing stranglehold, fostering a multipolar supply chain resilient to disruptions, though full Western independence demands sustained investment in downstream capabilities.