Critical Metals and Nuclearelectrica Partner on Rare Earth Processing Facility in Romania

Critical Metals, a U.S. company controlled by Romanian businessman Frank Timiș, has signed a joint venture agreement with Nuclearelectrica to build a rare earth processing plant in Feldioara, Romania. The facility will process 50% of the concentrate from Critical Metals' Tanbreez mine in Greenland, which is among the largest rare mineral deposits globally.

This project aims to create a fully integrated supply chain for critical minerals in the EU, directly competing with China's dominance in the sector. The agreement supports the EU's strategic initiatives for critical raw materials and aims to enhance energy security.

The partnership is expected to produce military-grade metals and magnets essential for defense and high-tech industries. Timiș, through his control of European Lithium, holds significant influence in this venture.