New York, Jan 15, 2026, 10:10 EST — Regular session.
- Critical Metals (CRML) slipped roughly 1% following news of a Saudi rare-earth processing term sheet worth up to $1.5 billion
- European Lithium, a major shareholder, has filed a notice to sell as many as 5 million shares
- Traders are watching to see if the term sheet becomes binding and when additional Tanbreez assay results arrive
Shares of Critical Metals Corp slipped roughly 1.3% to $17.70 Thursday morning, despite the Nasdaq-listed miner announcing a new processing venture in Saudi Arabia that it claims could transform its market strategy.
The move matters because rare earths — a group of metals essential for magnets in electric motors and certain weapons systems — rely heavily on processing, not just mining. Outside China, supply remains tight, and investors have been quick to factor in any signs of increased capacity.
The timing follows a steep climb in the stock, which jumped roughly 33% on Wednesday. This came after the company released new drill results from its Tanbreez project in Greenland.
Critical Metals has signed a non-binding term sheet to create a 50/50 joint venture with Saudi conglomerate Tariq Abdel Hadi Abdullah Al‑Qahtani & Brothers Company (TQB) for a rare-earth processing plant in Saudi Arabia, valued at up to $1.5 billion. The JV will hold long-term offtake rights to 25% of Tanbreez rare-earth concentrate for the mine’s lifespan. Critical Metals confirmed it won’t issue equity or assume debt for the project and will maintain its half stake on a carried-interest basis. Chairman Tony Sage described the deal as “effectively de-risking the project’s commercial pathway from mine to market,” while TQB CEO Abdulmalik Tariq Al‑Qahtani highlighted the move as key to “securing diversified and resilient supply chains” critical for technological advancement. GlobeNewswire
Critical Metals announced that the Saudi plant will produce separated rare earth oxides and metals, including magnet-grade varieties. The finished products are slated for shipment to the United States, targeting defense and other applications.
Just a day earlier, the company released initial assay results from its 2025 drilling campaign at Tanbreez’s Fjord and Upper Fjord zones. The findings confirmed steady grades and revealed strategic metals like gallium and hafnium. These results are expected to underpin a revised mineral resource estimate and help shape plans for the 2026 field season. More assays are still on the way.
Stock supply is adding pressure on the tape. European Lithium Ltd, holding 10% of Critical Metals, filed a Form 144 notice signaling plans to sell up to 5 million ordinary shares via BMO Capital Markets.
The broader rare-earth sector posted mixed results. MP Materials, a U.S. producer, dropped roughly 2.8%, underscoring how this group often reacts more to trading flows than to news headlines.
Still, the Saudi plan is just a term sheet, not a binding contract. The company and its partner must finalize definitive agreements, secure permits, and nail down technical specs. The timeline for shifting concentrate out of Greenland and into a new processing chain remains uncertain.
Investors are zeroing in on one thing now: binding JV paperwork, plus any insider filings that reveal if the planned share sale will actually flood the market. Traders are also holding out for the rest of the Tanbreez assay results the company says remain pending.
