Minister of Energy, Bogdan Ivan, announces a strategic project that could change Romania’s position on the map of critical raw materials: the construction of the country’s first copper refinery.
In an intervention on Antena3, the official argued that Romania loses significant amounts annually because it exports raw ore and then imports the refined product at a much higher price.
"Refining is the most complex thing"
Ivan explained the entire production chain that is detrimental to our country.
"If today we extract copper ore in Romania at a purity of 3-5%, take it to Port Constanţa, put it on ships, take it to Turkey, refine it there and bring it back, purity 98% (...) it is evident how much we lose," the minister stated.
According to him, "refining critical materials that exist in Romania is the most complex thing, and for this reason, Romania loses a lot."
Investment of 300 million euros for the first refinery
The Minister of Energy argues that the start of the project would require an investment of approximately 300 million euros.
"With just 300 million at the beginning, you can build the first copper refinery in our country, which would serve both Romania and neighboring countries," stated Bogdan Ivan.
The plan aims not only at copper processing but also at integrating a complete chain - from extraction to refining and subsequently to the industrial use of materials.
Preliminary agreement with an American company, with licenses in Greenland
The official announced that Romania has signed a preliminary document with a US mining company, which already holds licenses for rare deposits exploitation in Greenland.
"By the end of March, mid-April, we will clearly crystallize what the terms are, what materials we will process in Romania, what the conditions are, what the funding is, and by mid-April, we will reach a memorandum in the Romanian Government, accepting all these things between Romania and the USA," the minister stated.
He added that the project would become "the first integrated project between extraction, refining, and subsequent consumption," mentioning that the American partner already has contracts with major aerospace companies in the USA.
Possible spillover effect for the aerospace industry
Bogdan Ivan suggested that the establishment of a rare materials refinery in Romania could attract additional investments in the industry.
"The moment we, in Romania, already have the rare materials refinery, automatically those companies that today operate in the aerospace industry 7,000 km away will think 'isn't it easier for me to set up another factory in Braşov or Sibiu, to process further' (...) and in this way, we start to be global players because we have all the resources to be there," the minister affirmed.
Romania and critical materials: 16 out of 32 at the European level
In a previous statement on Prima TV, Bogdan Ivan argued that Romania holds 16 of the 32 elements considered critical at the European Union level, some of which are found only in Romania and at most in another EU member state.
According to the minister, this situation "positions us in the first place regarding subsurface resources, rare earth elements, and rare materials."
If the project is approved through a governmental memorandum in April, Romania could take an important step towards internal resource valorization and reducing dependence on external processing.