New York, Jan 23, 2026, 15:56 EST — Regular session
- Critical Metals shares jumped roughly 10% during afternoon trading, after a volatile session earlier in the day
- A recent filing revealed a non-binding Saudi MoU alongside four non-binding offtake term sheets linked to Tanbreez
- Traders are focused on binding contracts and any follow-up disclosures following this week’s company update
Shares of Critical Metals Corp jumped roughly 10% Friday, continuing a volatile streak. Investors are zeroing in on the company’s recent updates about rare-earth processing and ongoing sales discussions linked to its Tanbreez project.
This shift is crucial as Critical Metals aims to build a complete pipeline from mining to refined output. The market swiftly reacts to any signs of locked-in buyers or processing capabilities in a sector notorious for execution challenges.
Rare earths make up a tiny slice of the mining sector by volume, yet they’re key to magnets and parts in defense gear and electrification. A more straightforward route to processing and steady sales could shift how traders assess financing and project timelines.
Critical Metals closed at $20.34, gaining $1.88 from the previous $18.46. On Friday, shares fluctuated between $16.90 and $20.73, with volume exceeding 39 million shares.
Late Wednesday, the company disclosed in a Form 6-K that it signed a non-binding memorandum of understanding (MoU) with Saudi Arabia’s Tariq Abdel Hadi Abdullah Al‑Qahtani & Brothers Company. The goal: to explore one or more joint ventures for a processing and refining facility in the kingdom. The filing also confirmed Critical Metals holds a 42% equity stake in the Tanbreez Green Rare Earth Mine.
The filing also revealed the company has secured four non-binding term sheets for offtake of rare-earth concentrate from Tanbreez. An offtake refers to an agreement to sell future production, while a term sheet outlines initial terms. The company cautioned there’s no certainty these will turn into binding deals on favorable terms—or at all.
Shares of U.S.-listed critical-minerals peers edged higher, though gains were modest. MP Materials added roughly 1%, with Energy Fuels climbing around 4.5%.
Earlier this month, Critical Metals announced it had signed a non-binding term sheet to establish a 50/50 joint venture with the same Saudi group for a rare earth processing plant in Saudi Arabia. The company confirmed it would neither issue equity nor take on debt related to this agreement. Tony Sage, chairman of Critical Metals, described the deal as a “transformational milestone.” Abdulmalik Tariq Al‑Qahtani, CEO of the Saudi group, highlighted the “strong opportunity” to collaborate with U.S. partners. (Source: Company statement)
On Jan. 15, Reuters reported that Critical Metals expects the project to aid in locking down customers and financing. The company had pre-sold 75% of its planned output by that point.
Friday’s trading spotlighted the risks in the story. The latest MoU and offtake term sheets remain non-binding, and any processing expansion hinges on securing permits, engineering plans, and financing — plenty could go sideways before any metal changes hands.
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