Critical Metals Wants To Acquire A Massive Niobium Project In Kenya

Critical Metals has a new ambition: niobium.

What’s happening:

• Critical Metals (NASDAQ: CRML) has officially been shortlisted as one of three finalist bidders to proceed to the final stage of the Government of Kenya’s competitive tender process for the right to develop the Mrima Hill rare earth and niobium project located in Kwale County, Kenya
  

Why it matters:

• The Mrima Hill project is widely considered to be one of the single largest undeveloped niobium deposits outside of Brazil
  

Going deeper:

• Critical Metals has publicly stated they want to acquire the Mrima Hill project to expand their portfolio of Western-aligned rare earth and critical minerals assets
  
• Critical Metals is currently drilling at their flagship Tanbreez project located in Greenland which is focused on expanding mineralized zones of heavy rare earth elements that were previously identified through historical exploration and geological modelling
  

The intrigue:

• Critical Metals and REalloys (NASDAQ: ALOY) previously made waves when they struck a definitive offtake deal in which Critical Metals will supply REalloys with 15% of the total rare earth feedstock produced annually from their Tanbreez project