Critical Metals surges on second US rare earth offtake deal for Tanbreez

Group 1 - Critical Metals Corp. has signed a letter of intent with REalloys for a ten-year offtake agreement covering 15% of production from its Tanbreez rare earth project, bringing total committed offtake to 25% of expected production [1][3] - REalloys operates a full-cycle rare earth processing facility in Ohio and is preparing to list on Nasdaq, while also owning the Hoidas Lake rare earth project in Saskatchewan [2] - The Tanbreez project is noted for its rich deposits of heavy rare earth elements, which are crucial for the defense industrial base of the United States and allied nations [3] Group 2 - Shares of Critical Metals increased by 15%, resulting in a market capitalization of $1.27 billion [4] - The Tanbreez project is one of the largest heavy and medium rare earth deposits globally, with year-round deep-water access to the North Atlantic [4] - Earlier reports indicated that US officials denied considering an equity investment in Critical Metals while negotiating a stake purchase in Lithium Americas [5]