Romania holds 16 of the 32 critical raw materials designated at the EU level, energy minister Bogdan Ivan has said, claiming the country ranks first in the bloc in terms of subsoil resources for rare earths and strategic minerals.

“Romania today has 16 of the 32 critical elements considered critical at the European level, which are found only in our country and at most in one other EU member state. This positions us in first place in terms of subsoil resources, rare earths, and rare materials. So we have half of what Europe needs here,” Ivan stated, as quoted by ProTV.

Romania is already cooperating with an "extremely important" American company in an attempt to reduce its dependence on critical minerals from China, according to Digi24. The “extremely important” US company is most likely Critical Metals Corp, with the same key investor behind it as Rosia Montana Gold Corporation: Frank Timis.

However, the minister acknowledged that Romania does not yet have an integrated processing, refining, and utilisation chain for these minerals. Once developed, he said, such a chain would be the first of its kind in the western hemisphere and could supply strategic industries, including Elon Musk’s SpaceX.

Ivan also referred to discussions involving US-based Critical Metals Corp, reportedly backed by businessman Frank Timiș, regarding a potential agreement with state-controlled nuclear power producer Nuclearelectrica (BVB: SNN). The plan would involve developing the uranium processing facility at Feldioara, in central Romania, into a plant capable of processing and refining rare earth elements extracted from Greenland by Critical Metals Corp.

In addition, the minister cited three Romanian projects included under the EU’s Critical Raw Materials Act, which he described as having been “won at the European Commission” and worth a combined EUR 600 million.

According to European Commission data, the three projects - valued at approximately EUR 615 million - are being developed by Euro Sun Mining (Canada, copper), state-owned Salrom (graphite), and Verde Magnesium (backed by US private equity investor Amerocap, magnesium). One of the projects, Euro Sun Mining’s copper development, currently lacks a valid environmental permit.

The statements come as the EU seeks to reduce its dependency on external suppliers of critical raw materials, amid rising geopolitical tensions and growing demand from the energy transition and defense sectors.

iulian@romania-insider.com

(Photo source: Facebook/Ministerul Energiei)