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The latest announcement is out from European Lithium ( (AU:EUR) ).
European Lithium Ltd and Critical Metals Corp have announced an amended agreement to acquire a 100% controlling interest in the Tanbreez Rare Earths Project in Greenland. This strategic move enhances their position in the rare earth supply chain, with Critical Metals increasing its stake from 42% to 92.5% by issuing shares to Rimbal Pty Ltd. The Tanbreez Project, notable for its high concentration of heavy rare earth elements, is expected to significantly impact the rare earth supply chain in the West, offering a more environmentally viable option due to low uranium and thorium levels. The transaction, pending Greenland governmental approval, is anticipated to close by late 2025, with European Lithium maintaining a 7.5% minority interest.
More about European Lithium
European Lithium Limited is an exploration and development stage mining company focused on lithium, rare earth, precious metals, and base metals in Austria, Ireland, Ukraine, and Australia. The company holds a significant stake in Critical Metals Corp., which is involved in developing strategic products essential for electrification and next-generation technologies.
Average Trading Volume: 3,841,018
Technical Sentiment Signal: Buy
Current Market Cap: A$135.2M
For detailed information about EUR stock, go to TipRanks’ Stock Analysis page.