Critical Metals Corp Advances to Final Round of Kenya Government Tender for the World-Class Mrima Hill Rare Earth and Niobium Project

Critical Metals Corp. (Nasdaq: CRML) (“Critical Metals Corp” or the “Company”), a leading critical minerals mining company, today announced the Mrima Earth Limited Consortium (the “Consortium”), in which Critical Metals is the lead party, has been shortlisted as one of only three American finalists, from an initial field of seven 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 in Kwale County, Kenya, a powerful endorsement of the Consortium’s financial strength, world-class technical capability and vision of developing Mrima Hill and Kenya as a regional rare earth processing hub.

Mrima Hill is widely regarded as one of the most significant undeveloped rare earth and niobium deposits globally, positioned on Kenya’s southern coast with direct access to the Port of Mombasa.

The opportunity arrives at a pivotal moment for the industry: China currently controls approximately 90% of global rare earth supply and has signaled it will increasingly prioritize domestic needs, while demand for the rare earth magnets that power EVs, wind turbines and defense systems is projected to grow four to six times by 2040.

Mrima Hill represents a natural and highly complementary addition to Critical Metals’ existing portfolio, sitting alongside the Company’s Tanbreez rare earth project in Greenland and consolidating its Western-aligned rare earth strategy.

The Consortium is exceptionally well capitalized to deliver.

Together with ASX-listed European Lithium Ltd, which holds an approximate 31% interest in Critical Metals, the group carries a combined market capitalization of approximately US$1.5 billion and cash reserves in excess of US$400 million, with the Consortium further supported by institutional investors.

This financial strength means the Consortium is fully funded through both the project development stage and Phase 1 construction.

The Consortium is built for speed as well as scale.

An accelerated development approach, combining parallel engineering, permitting and procurement, early mobilization of EPC and technical contractors, and fast-tracked long-lead equipment procurement is expected to be designed to deliver earlier first production and earlier cash flow generation than a conventional development timeline would allow.

The Consortium’s ambition extends across the full rare earth value chain, from initial concentrate production through to separated rare earth oxides and, ultimately, the production of high-value NdPr magnets — the single most valuable product in the rare earth supply chain, and one currently dominated entirely by China.

Underpinning all of this is a technical team that has not just studied rare earth projects but helped build them, including Molycorp’s Mountain Pass project in California (now owned by MP Materials), Pensana’s Longonjo project in Angola, NioCorp’s US$1 billion Elk Creek project in Nebraska, and Peak Resources’ Ngualla project in Tanzania.

The Consortium’s long-term vision extends beyond mining to position Mrima Hill at the center of a regional rare earth processing hub, creating thousands of jobs across East and Southern Africa and underpinned by full alignment with IFC Performance Standards, the Equator Principles and the UN Global Compact.

Tony Sage, Chairman of CRML, commented: “Being shortlisted for the final stage of this process is a defining moment for Critical Metals and our Consortium.

Mrima Hill is precisely the kind of world-class, strategically located asset we have built this Company to pursue, and it sits perfectly alongside Tanbreez, further ...