U.S.-based Critical Metals Corp. has established a Romanian subsidiary, a step toward a proposed joint venture with state-controlled nuclear power producer Nuclearelectrica. The venture would develop a rare earth elements processing plant in Feldioara, Romania.
The proposed facility would process minerals from Critical Metals’ Tanbreez project in Greenland. It aims to support a Western supply chain for materials used in defense, aerospace and renewable energy.
The project remains subject to a final investment decision. Nuclearelectrica said no final decision has been made while a pre-feasibility study undergoes technical and economic evaluation.