MINEX Forum

Tag: EU critical minerals

  • Critical Metals Corp and Romania’s FPCU Form 50:50 JV to Build EU Rare Earth Processing Hub Linked to Tanbreez

    Critical Metals Corp and Romania’s FPCU Form 50:50 JV to Build EU Rare Earth Processing Hub Linked to Tanbreez

    Critical Metals Corp. (Nasdaq: CRML) has executed a term sheet to establish a 50:50 joint venture with Romania’s state-owned Fabrica de Prelucrare a Concentratelor de Uraniu (FPCU), marking a major step toward creating a fully integrated, Western-aligned rare earth supply chain spanning mine to processing.

    Under the agreement, the JV will secure long-term offtake rights to 50% of Tanbreez’s rare earth concentrate production and advance plans to develop a state-of-the-art rare earth processing facility in Romania. The project is designed to supply European industries and defence sectors while reducing reliance on China, which currently controls more than 80% of global rare earth processing capacity.

    The JV structure is notable in that CRML will not issue debt or equity to fund the facility. The company will retain its 50% stake on a carried-interest basis, with no capital expenditure obligations related to construction. The plant is expected to produce a range of high-value outputs, including aerospace- and military-grade rare earth magnets.

    With this agreement, CRML will have 75% of Tanbreez’s future production committed under long-term offtake agreements with allied partners, following earlier deals allocating 10% to UCORE and 15% to ReAlloys. Once mining at Tanbreez is commissioned, CRML will supply half of the project’s concentrate to the Romanian JV for the full life of mine on competitive market terms.

    The partners will now work to finalise the technical and commercial framework for the JV, overseen by a dedicated development committee responsible for plant design, development strategy and commercialisation of processed products. Both CRML and the Romanian government plan to apply for funding under the EU’s recently announced €3.5-billion critical raw materials support package.

    CRML also confirmed it is updating its feasibility study to reflect a redesigned processing flowsheet at Tanbreez. The company is targeting an increase in concentrate grade from 2.2–2.5% to above 3% TREO, which is expected to improve mine-to-metal economics and downstream product quality. An updated feasibility study and revised timelines are expected by Q1 2026.

  • Greenland Resources Secures €500,000 EU-Backed Funding to Advance Magnesium Extraction at Malmbjerg Project

    Greenland Resources Secures €500,000 EU-Backed Funding to Advance Magnesium Extraction at Malmbjerg Project

    Greenland Resources Inc. has entered into a Financial Sustainability Agreement with EIT RawMaterials GmbH, securing €500,000 in EU-backed funding to advance innovative magnesium extraction at its Malmbjerg molybdenum project in Greenland. The funding, provided through Horizon Europe, will support testing of magnesium recovery from saline process water—an initiative aligned with the EU’s Critical Raw Materials Act, as magnesium remains one of Europe’s most import-reliant minerals.

    The company also plans a non-brokered private placement of up to 112,122 common shares at $1.65 each, raising approximately $185,000. The offering, pending Cboe approval, is expected to close around November 20, 2025. Greenland Resources has applied for additional Horizon Europe–supported programs, aiming to cover a substantial portion of the project’s equity capex.

    Under the agreement, EIT RawMaterials will invest through Greenland Resources’ subsidiary in Greenland, with securities convertible into company shares via put and call options exercisable within six months. At least €375,000 of the funding will be advanced immediately, with the remainder contingent upon final project reporting and approval.

    The Initial Conversion, tied to the offering’s expected closing date, would see EIT RawMaterials receive up to 493,939 shares at $1.65, depending on the final amount of Initial Funds disbursed. Any later conversion of Remaining Funds would be priced at the 20-day volume-weighted average, subject to a minimum of $1.65 per share.

    EIT RawMaterials CEO Bernd Schäfer emphasized Europe’s pressing need to secure magnesium supplies, noting that China currently produces nearly all of the EU’s consumption. He said the investment supports innovative, low-carbon production pathways vital for European industry and defence sectors.

    Greenland Resources Executive Chairman Ruben Shiffman said the funding sets an important precedent for future EU strategic investments, demonstrating that public European financing can be deployed through the company’s Greenland subsidiary and converted into its Canadian-listed parent entity.

    The Malmbjerg project, which received a 30-year exploitation licence in June 2025, contains both molybdenum and magnesium. The project’s design focuses on low environmental impact, with high-grade molybdenum expected to supply up to 25% of the EU’s annual consumption and fully meet its defence needs during the first decade of production. Magnesium recovery from saline water is being incorporated into updated feasibility economics.

    With China dominating global production of both molybdenum and magnesium, the EU views long-term supply diversification as essential. The Malmbjerg project, supported by the European Raw Materials Alliance, is positioned as a key strategic source for Europe’s green, industrial, and defence sectors.

  • Greenland Grants 30-Year Permit to EU-Backed Malmbjerg Molybdenum Mine

    Greenland Grants 30-Year Permit to EU-Backed Malmbjerg Molybdenum Mine

    Greenland Resources (Cboe CA: MOLY) has received a 30-year exploitation licence for its Malmbjerg molybdenum project, a significant step in securing the European Union’s critical mineral supply. Backed by the EU and the European Raw Materials Alliance (ERMA), the open-pit mine is expected to meet up to 25% of the EU’s molybdenum needs during its first decade of production.

    The Malmbjerg site will produce an average of 32.8 million pounds of molybdenum annually—an essential element for steel reinforcement and vital applications in aerospace, energy, and defence. The strategic importance of this development has only intensified as China, the global leader in molybdenum supply, tightened export controls following new U.S. tariffs.

    Greenland Resources has already signed off-take agreements with major European steelmakers, including Finland’s Outokumpu and Italy’s Cogne Acciai Speciali. The government of Greenland sees the project as a milestone in its push toward economic self-sufficiency. Minister Naaja H. Nathanielsen emphasized that Malmbjerg will bring jobs, local business opportunities, and potentially $1 billion in tax revenues over its operational lifetime.

    The project’s approval adds momentum to Greenland’s expanding mining sector. In recent weeks, the government has approved a range of new ventures, including a graphite initiative added to the EU’s list of 13 new critical raw materials projects and progress by Critical Metals Corp. on the Tanbreez rare earth mine with prospective U.S. EXIM Bank backing.

    As global competition for critical minerals intensifies, Greenland is emerging as a strategic hub for raw materials vital to Western supply chains.

  • Talga’s Swedish Graphite Mine Gets Final Green Light, Bolstering EU’s Battery Supply Chain

    Talga’s Swedish Graphite Mine Gets Final Green Light, Bolstering EU’s Battery Supply Chain

    Australia’s Talga Group (ASX: TLG) has secured full regulatory approval to begin development of its Nunasvaara South graphite mine in northern Sweden, after the country’s government officially dismissed all remaining appeals against the exploitation concession.

    The decision marks the end of a long and turbulent permitting process, unlocking Talga’s broader Vittangi anode project, which integrates the newly approved mine with its previously permitted Luleå anode refinery. Together, these form one of Europe’s most advanced vertically integrated graphite projects.

    “Today validates years of dedication,” said Talga founder and managing director Mark Thompson, calling the milestone a major step in the company’s ambitions to supply Europe’s growing battery market.

    Sweden’s Energy, Business and Industry Minister Ebba Busch also welcomed the news, stating: “The graphite that Talga is planning to produce is a key material in battery manufacturing and the green transition to a fossil-fuel free society.”

    The announcement triggered a strong market reaction, sending Talga shares up 20% on Thursday to A48 cents, and lifting its market capitalization to A$216 million (approx. $140 million).

    A rough permitting journey
    The path to approval was far from smooth. After obtaining environmental and Natura 2000 permits in April 2023, Talga faced a string of legal challenges from environmental groups. While Sweden’s Land and Environment Court of Appeal upheld the permits, opponents took the case to the Supreme Court, which declined to hear it in October 2024.

    A final appeal against the exploitation concession was filed in December 2024, delaying the project again. This week’s rejection of that challenge by Sweden’s Ministry of Climate and Enterprise officially clears the way for development.

    Strategic timing for Europe
    Talga’s mine arrives just as European battery gigafactory capacity is surging, with demand for graphite anodes projected to rise from 30,000 tonnes in 2023 to over 500,000 tonnes annually by 2030. Currently, China controls 84% of global graphite processing, and Talga’s project is seen as a key move to reduce the bloc’s dependency on foreign supply.

    The EU has recognized the strategic importance of Talga’s project, awarding it a €70 million grant via the Innovation Fund, and naming it a strategic initiative under both the Critical Raw Materials Act and the Net-Zero Industry Act.

    Each 10,000 tonnes of locally produced graphite is expected to reduce the EU’s foreign mineral dependency by 7%, making this not just a commercial success for Talga, but a major geopolitical win for Europe’s green transition.