Critical Metals (CRML +22.59%) finished up 22.6% on Friday, Aug. 21, 2026, after the rare-earth miner's CEO said the timeline is holding for its critical Tanbreez Project in Greenland.

Tanbreez is on track to produce rare-earth within three years

Critical Metals' CEO said that the Tanbreez project remains on track and should be producing rare-earth elements -- strategically important metals used in magnets for things like electric vehicles and defense equipment -- within three years.

The company also released financial details of its acquisition of European Lithium. The deal would take Critical Metals from a 92.5% control of Tanbreez to a full 100%.

Critical Metals laid out steps meant to limit dilution from the transaction, reassuring shareholders and helping to lift shares.

Critical Metals is pre-revenue and three years from first production

Rare-earth metals are, as you might expect, hard to come by -- especially outside of China. That, in combination with the fact that they're essential for critical defense applications, has made producing more of them a top priority for the U.S. Government.

Image source: Getty Images.

Uncle Sam has already made investments in other rare-earth miners, and many investors hope the government will do the same thing here. It might happen, but I wouldn't make my investing decisions based on speculation.

The company is essentially pre-revenue and may be three years out from even beginning production. While there could be real profits on the other end, that's a long way to go in a capital-intensive business like rare-earth mining.