Verde Magnesium invests USD 1 bln in the mining of magnesium and a new factory

Verde Magnesium wants to invest USD 1 billion in magnesium mining and in the development of a metallic magnesium factory in Romania.
The total investment, of USD 1 billion will ensure a maximum production capacity of the factory of 90,000 tons of metallic magnesium per year and will be realized gradually, in approximately eight to ten years.

Europe will resume magnesium mining for the first time in more than a decade as the European Union seeks to reduce its reliance on Chinese imports of the essential raw material. Romania, a member of the European Union, recently granted a mining concession to the company Verde Magnesium, behind which is the American investment company Amerocap.

Source: zf.ro