Q&A with Tony Sage, Chief Executive Officer, Executive Chairman, and Director, Critical Metals Corp
Can you give us a quick overview of Critical Metals Corp?
Critical Metals Corp is an emerging mining development company focused on delivering critical minerals essential to the global energy transition.
Our flagship asset, the Tanbreez Project in Greenland, hosts one of the largest, rare earth deposits. With a 4.7B ore body, we have recently launched a 2,000m drilling campaign aimed at expanding its mineral resource estimate.
With an experienced board and management team, Critical Metals Corp is advancing its projects with a clear focus on sustainability, regional partnerships, and geopolitical relevance. As a new entrant to The Assay community, our company brings high-impact assets aligned with Europe’s and North America’s push for secure, low-carbon critical mineral supply chains.
Why are your projects in Greenland and Austria important for Europe’s critical minerals supply?
Our projects in Greenland and Austria are pivotal for Europe’s critical minerals supply because they align directly with the continent’s growing demand for key resources like rare earth elements (REEs) and lithium, which are essential for clean energy, technologies, robotics, and aerospace & defense industries.
REEs are vital for manufacturing high-performance magnets used in EV motors, wind turbines, and other green technologies. Greenland’s Tanbreez Project is one of the few significant sources of these materials in the western world, crucial for reducing Europe’s dependence on China, which currently dominates the REE market. Tanbreez’s large resource base, location, and potential for high-quality output could place Europe on the map as a global player in the REE supply chain, strengthening its geopolitical position in the global race for critical minerals.
Lithium is the backbone of the electric vehicle (EV) and energy storage sectors. Europe has historically relied on imports from other continents, but as EV adoption accelerates, the demand for locally sourced lithium has surged. The Wolfsberg Lithium Project is one of Europe’s most advanced hard-rock lithium developments, positioning Austria as a potential critical supplier for the EU’s automotive industry and battery manufacturers.
Importantly, Tanbreez and Wolfsberg are expected to be among the cleanest and greenest mines of their respective categories in the entire world.
What makes the Tanbreez rare earth project stand out from others in the market?
Our Tanbreez Project stands out due to its strategic location in Greenland, offering Europe and North America a secure, low-risk alternative to PRC-dominated rare earth supplies.
Tanbreez’s 4.7B ore body positions it as one of the most significant undeveloped REE projects globally.
Additionally, Greenland’s stable regulatory environment and growing emphasis on sustainable resource development increase our projects appeal.
The combination of quality, scale, and strategic location truly make this project a standout in the global rare earth market.
Wolfsberg is fully permitted. What does this mean, and how close is it to producing lithium?
The Wolfsberg Lithium Project has completed all the necessary regulatory and environmental approvals required by Austrian authorities to move forward with mining operations. These include securing permissions for exploration, extraction, and environmental management, all of which significantly de-risk the project, making it more attractive to investors and partners.
With regard to our expected production timeline, Wolfsberg is at the advanced stage of development. The project has already completed extensive drilling, feasibility studies, and environmental assessments, with the goal of starting lithium concentrate production by 2026.
Are you currently engaged with battery manufacturers or automotive companies on potential offtake or supply agreements?
Yes, Critical Metals Corp. has signed a lithium offtake agreement with BMW, indicating strong demand for the project’s output. Given its fully permitted status and the ongoing development work, Wolfsberg is well-positioned to move into production within a few years, potentially becoming a major European supplier of battery-grade lithium as the EV market continues to grow.
Critical Metals Corp. has just signed a 10-year non-binding Letter of Intent (LOI) for an offtake agreement with Ucore Rare Metals. Under this agreement, Critical Metals will supply up to 10,000 metric tons annually of heavy rare earth concentrate from its Tanbreez Project in Greenland.
How are you planning to fund these projects and move them into production?
Critical Metals Corp. is fortunate to be in a very strong financial position currently having no debt. Recently we received a milestone letter of interest from the US EXIM for $120M loan and we are at advanced stages of discussion from other
US and EU-linked governmental organs for further funding.
In addition, we pursue a range of other sources such as investment banks and global capital markets.
What key milestones should investors watch out for over the next six to 12 months?
- Further assay results from the 2024/25 drilling programme
- More assays from the twin-hole and historic drill programmes are expected in phases, with several pending results still to be released
- An updated DFS is expected in Q4 2025, to refine economics and support the pathway toward commercial production in 2026
- A range of funding agreements and off-take agreements with US and with global strategic partners
- Clear and public demand signals from Western alliance partners and defense agencies in respect of exactly the rare earth elements and critical minerals that Critical Metals Corp is bringing to market
