American investment in Romania – Aerospace and Military Works

The Factory Processing Uranium Concentrates at Feldioara (FPCU), owned by the state company Nuclearelectrica, the operator of Cernavoda nuclear plant, and the rare metals producer Critical Metals (CRML), listed in New York, will make up a joint venture to build and operate a factory in Romania for processing rare earths, according to www.profit.ro.   CRML is a majority shareholder for rare earth metals and advanced materials for direct use in EU – strategically consolidating national security, advanced production, defense technologies and electrification. The two companies signed the Terms Document for setting up the joint venture.   Tanbreez, the main project of Critical Metals, is one of the biggest rare earth sources in the world and is located in southern Greenland, according to data analysed by Profit.ro. The strategic initiative places Romania at the top of Europe's efforts to ensure the strategic materials needed for defense, clean energy and next generation technologies.   CRML will supply 50% of rare earth concentrates extracted in Tanbreez to the future company in Romania, during the lifespan of the mine, “in competitive market conditions established by both parties.”   The joint venture will manufacture magnets for airspace and military industries. By ensuring exclusive rights for 50% of the present Tanbreez resources, the joint venture will establish a resilient supply chain focussed on Europe, reducing the dependence on China, which now controls over 80% of the world rare earth processing, and protecting EU against geopolitical vulnerabilities. By turning to account the huge values coming from the Tanbreez concentrate we will not only build a factory but remove China's clutch on rare earths, offering Europe independent and safe sources for its national defense and security needs, said Yony Sage, Critical Metals CEO.   The strategic initiative places Romania at the top of European efforts to ensure strategic materials needed for defense, clean energy and next generation technologies, Bogdan Ivan, the Energy minister showed. In a world where access to critical minerals has become a defining geopolitical war field, Romania is placed in the center of a completely integrated supply chain, alligned to the West, from mining to processing, said Ivan after signing the document.   CRML and the Romanian government will request European funds for the future project, from the 3.5 billion euro package recently announced for projects in the rare metal industry, according to CRML. Critical Metals, a company registered in the Britich Virgin Isles and based in New York, is specialised in the extraction and processing of critical metals and minerals. The company is owned by European Lithium, based in Australia. Critical Metals shares appreciated by 1.9% on Tuesday, at 9.93 dollars, a price offering the company a market capitalization of about 1.17 billion dollars. After this announcement, the shares of the American company went up by 4% in pre-market transactions.