Critical Metals and TQB Form 50/50 JV for $1.5B Rare Earth Facility in Saudi Arabia
Critical Metals Corp. has formed a 50/50 joint venture with Tariq Abdel Hadi Abdullah Al-Qahtani & Brothers Company to establish a $1.5 billion rare earth processing facility in Saudi Arabia. Critical Metals will provide 25% of its Tanbreez Project's rare earth concentrate to the facility, which will produce separated rare earth oxides and metals for aerospace and defense, with all products destined for the U.S. This partnership aims to enhance global rare earth processing capacity and reduce dependence on China.
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Critical Metals Corp. executed a term sheet for a 50/50 joint venture with Tariq Abdel Hadi Abdullah Al-Qahtani & Brothers Company to develop a rare earth processing facility in Saudi Arabia, valued up to $1.5 billion. Under the agreement, Critical Metals will supply 25% of its Tanbreez Project's rare earth concentrate production to the facility throughout its operational life.
Critical Metals will retain a 50% ownership on a carried-interest basis without incurring debt or capital expenditures. The facility will produce separated rare earth oxides and metals for aerospace and defense applications, with all finished products sent to the U.S.
The partnership aims to enhance global rare earth processing capacity and reduce reliance on China. The companies will finalize technical and regulatory aspects in the coming months.
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