Mineral Proiect Invest Initiates Magnesium Mining Project in Romania
Mineral Proiect Invest has launched procedures for a magnesium mining operation in Sibiu County, with an initial investment of nearly EUR 100 million. This project aims to enhance local mineral extraction capabilities and is expected to exceed EUR 200 million over its 30-year lifespan, leveraging potential European funding for development.
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Mineral Proiect Invest has commenced legal steps to establish a magnesium mine in Sibiu County, allocating an initial investment of approximately EUR 100 million. The project includes developing a quarry in Valea Dobra, constructing an ore processing facility in Săliște, and a cable transport system for ore delivery.
Over the mine's estimated 30-year operational period, total investment could surpass EUR 200 million. The project is anticipated to receive financial support from European funds, although official confirmation is pending from the European Commission. This initiative aligns with the EU's designation of magnesium as a critical mineral, emphasizing the importance of local resource development.
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