Nuclearelectrica, US Critical Metals sign non-binding agreement to develop rare earth processing capacity in Romania

Critical Metals Corp (Nasdaq: CRML), an American company specialising in critical minerals, and Romanian nuclear group Nuclearelectrica (BVB: SNN) announced on December 9 the signing of an agreement for the development, in Romania at Feldioara, of an industrial rare earth processing facility.

The planned facilities at Feldioara, where Nuclearelectrica operates its subsidiary Uranium Concentrate Processing Plant (FPCU), will process concentrate from the Tanbreez project in Greenland, one of the largest heavy rare earth resources in the world, and CRML will have offtake rights for 50% of the total production over the life of the mine.