Critical Metals Corp (NASDAQ:CRML) shares moved higher after the company announced a long-term offtake agreement tied to its flagship rare earth project in Greenland.

The company said it has entered into a definitive 15-year binding offtake agreement with REalloys (NASDAQ: ALOY) for rare earth element concentrate from its Tanbreez Project in southern Greenland. The agreement includes two optional five-year extensions and builds on a prior letter of intent signed in October 2025.

Under the terms of the deal, REalloys will purchase 15% of Tanbreez’s annual rare earth concentrate production. The agreement also gives REalloys priority access to material with higher concentrations of heavy rare earths such as dysprosium and terbium, as well as a right of first refusal on additional volumes.

The company also highlighted that the agreement follows approval from the Government of Greenland on April 17, 2026, allowing Critical Metals to increase its ownership stake in Tanbreez to 92.5%. The company said the approval consolidates operational control of the project and supports further development efforts.

Pricing under the agreement is linked to international rare earth oxide benchmarks on an element-by-element basis, with deliveries set to be made FOB at the Tanbreez port in southern Greenland. Commercial shipments are expected to begin once production starts.

Critical Metals described the deal as part of its effort to advance Tanbreez toward production and integrate output into downstream supply chains, including processing and magnet manufacturing. The company said it plans to work with REalloys to refine product specifications and logistics as development progresses.

Tanbreez is a heavy rare earth deposit that contains elements used in permanent magnets and other industrial applications, as well as materials such as hafnium, cerium, lanthanum, niobium and zirconium, which have uses in electronics and advanced manufacturing.

“This agreement marks a pivotal inflection point for Critical Metals and unequivocally validates Tanbreez as a world-class, development-stage asset of global strategic importance,” Critical metals chairman Tony Sage said.

“With 92.5% ownership secured and strong governmental backing in Greenland, we have established full control over one of the most significant heavy rare earth deposits outside of China.”

Shares of Critical Metals were up 4% at about $11 on the update, while REalloys stock added 3% at about $9.

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