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NEW YORK - Critical Metals Corp (NASDAQ:CRML), whose shares have surged 17% in the past week and currently trade at $4.92, announced Tuesday the appointment of Mathias Barfod as President of Greenland Operations, a newly created position. Barfod will report directly to CEO and Executive Chairman Tony Sage.
Based in Greenland, Barfod brings over a decade of experience in the country’s mineral resource sector. His responsibilities will include supporting the scale-up of the Tanbreez Project and overseeing relations with the local community.
Barfod previously worked for Greenland’s mineral resource authority, where he guided companies on community relations and regulatory compliance. Most recently, he was involved in developing a resource estimate for a project in North Greenland. He holds a master’s degree in political science from the University of Copenhagen.
The Tanbreez Project is one of the world’s largest rare earth deposits, located in Southern Greenland with access to deep water fjords leading to the North Atlantic Ocean. Critical Metals Corp also owns the Wolfsberg Lithium Project in Austria, which the company describes as the first fully permitted lithium mine in Europe.
"I’m eager to play an important role in the growth of a foundational Greenland rare earth project and help the Company develop strong connections with the local community," Barfod said in the press release.
Critical Metals Corp focuses on mining development of metals and minerals considered essential for electrification and next-generation technologies for Western markets.
In other recent news, Critical Metals Corp. announced the receipt of a $120 million funding package from the Export-Import Bank of the United States. This funding is set to support pre-production activities and initial mining operations at the Tanbreez rare earth project in Greenland. Additionally, the company has begun a 2,000-meter drilling program at the same site, targeting an increase in the mineral resource estimate at the Fjord Eudialyte Deposit. The current estimate stands at 8.76 million tonnes in indicated resources and 13.8 million tonnes in inferred resources.
Moreover, Critical Metals has raised approximately $2 million through the exercise of outstanding warrants, which will help further develop their mineral projects in Greenland and Europe. The company also formed a new Advisory Board, including experts like Christian Aramayo and Mathew August, to guide the development of its critical minerals projects. Notably, retired U.S. Air Force Four-Star General Tim Ray has joined this board, bringing strategic insight to the company’s endeavors. These developments highlight Critical Metals’ ongoing efforts to advance its critical minerals portfolio.
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