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In mid-January 2026, Critical Metals Corp. announced a non-binding 50/50 joint venture framework with Tariq Abdel Hadi Abdullah Al-Qahtani & Brothers Company to develop, finance, construct, and operate a rare earth processing facility in Saudi Arabia, backed by long-term offtake for 25% of Tanbreez’s concentrate and recent permitting progress at its Greenland pilot plant.
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The planned facility would send finished rare earth materials to the United States for defense-related uses, highlighting Tanbreez’s role in a mine-to-processing supply chain that aims to broaden non-Chinese rare earth processing capacity across allied markets.
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With the company’s recent share price gains, we’ll examine how this Saudi processing joint venture shapes Critical Metals’ investment narrative.
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For anyone considering Critical Metals, the core belief is that Tanbreez can transition from a high‑grade geological story into a functioning, Western-aligned rare earths supply chain. The Saudi JV framework sharpens that narrative: it links long-term offtake for a quarter of Tanbreez concentrate with a processing route into the US defense sector, and does so without adding debt or equity, which matters for a company with minimal revenue, large losses and prior going-concern flags. Near term, the key catalysts still sit around financing, Greenland permitting, and getting the pilot plant and processing partnerships moving, but this JV potentially de-risks part of the offtake and capex burden. The flip side is that execution, permitting, and geopolitical risks now extend across multiple jurisdictions, not just Greenland.
Yet one of the most important risks here is still easy to overlook.
Our valuation report unveils the possibility Critical Metals’ shares may be trading at a premium.
Eleven Simply Wall St Community fair value views run from about US$0.00 to over US$32, underlining how far apart individual expectations sit. Set that against Critical Metals’ zero point five million dollars of revenue and sizeable losses, and it is clear why opinions on execution and funding risk are so divided. Readers can use this spread of views to test their own assumptions about how the Saudi JV and Tanbreez development might play out.
Explore 11 other fair value estimates on Critical Metals – why the stock might be worth less than half the current price!
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