Critical Metals Corp. (CRML) has entered into a 50‑50 joint venture with Fabrica de Prelucrare a Concentratelor de Uraniu S.R.L. (FPCU), a state‑owned Romanian entity. The agreement gives CRML long‑term offtake rights to 50 % of the entire Tanbreez concentrate output and sets the framework for constructing a state‑of‑the‑art rare‑earth processing plant in Romania.
The partnership marks the first fully integrated mine‑to‑processing supply chain in the Western world. By securing a processing route for its Greenland‑based Tanbreez deposit, CRML reduces European dependence on Chinese processing capacity and supports the European Union’s Critical Raw Materials Act and €3.5 billion rare‑earth package. CRML and Romania plan to apply for EU funding to support the facility’s development.
FPCU is a subsidiary of Nuclearelectrica, Romania’s state‑owned nuclear energy company, and has decades of experience in refining, hydrometallurgy, and producing ultra‑high‑purity materials. Its expertise makes it an ideal partner for building a high‑performance rare‑earth processing facility that can handle the heavy‑rare‑earth‑rich Tanbreez concentrate.
The Tanbreez project, located in Greenland, is one of the world’s largest known heavy‑rare‑earth deposits. CRML has secured environmental approvals and engaged engineering firms for feasibility studies, positioning the project for commercial production once the processing plant is operational.
Under the joint venture, CRML’s total committed offtake from Tanbreez rises to 75 %—10 % previously committed to UCORE, 15 % to ReAlloys, and 50 % now secured through the new agreement. The deal requires no debt or equity financing from CRML for the JV’s capital expenditures, preserving the company’s balance‑sheet strength.
Tony Sage, CEO and Chairman of CRML, said, “We’re not just building a plant – we’re dismantling China’s stranglehold on rare earths and empowering Europe with secure supplies.” He added, “This is a monumental game‑changer for CRML and the entire Western world.”
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