Critical Metals Corp (NASDAQ:CRML) is
one of the top lithium stocks to buy now. On August 26, the company signed a letter of intent for an offtake agreement with Ucore Rare Metals, a leader in rare and critical metal resources.
Under the terms of the agreement, Critical Metals is to supply up to 10,000 metric tons of rare earth concentrate from its Tanbreez Project. The concentrate is to be used as feedstock for Ucore’s rare earth element processing facility.
While Ucore and Critical Metals are focused on lessening China’s grip on the rare earth ecosystem, they also remain focused on meeting the growing demand for rare earths and addressing national security challenges.
“Critical Metals Corp’s Tanbreez offers tremendous opportunities for Ucore given the significant concentration of heavy rare earths it contains, which are essential for our processing facility in Louisiana, and our downstream partners,” said Pat Ryan, Chairman and CEO of Ucore.
Critical Metals Corp (NASDAQ:CRML) is a mining exploration and development firm focused on identifying and advancing deposits of lithium and rare earth elements. It is developing the Wolfsberg Lithium Project in Austria, which is Europe’s first fully permitted lithium mine, to become a significant supplier of lithium products for the European market. The company focuses on mining critical minerals essential for electrification, such as lithium for batteries, as well as other strategic metals, including rare earth elements.
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Disclosure: None. This article is originally published at
Insider Monkey.
