A Romanian-American company begins to explore the magnesium resources in Bihor. Up to 10,000 jobs will be created
A Romanian-American company received a license, in 2024, to explore the resources of polymetal ore in the perimeter of Pițigușului-Budureasa, Bihor County. Commercial operations are expected to start at the end of 2028, to increase up to 30,000 tons of metal magnesium per year, reaching a maximum production of up to 90,000 tonnes per year by 2036.
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According to Libertatea, the company Verde Magnesium SRL recently submitted, at the Environmental Protection Agency, the request for issuing the Environmental Agreement for the geological research works in the mining perimeter.
Also, a water management notice from the Crișuri-Oradea water administration was requested.
The project in the area of Budureasa commune, in the northwest area of the Apuseni Mountains, aims to exploit the most important magnesium deposit in Europe, estimated at 40 million tonnes of ore content of 30% magnesium, which was included by the European Commission on the list of strategic investments to be supported with European funds.
From Romania, the project of copper from Rovina, Hunedoara County, respectively the project of exploitation of the graphite from Baia de Fier, Gorj county, were included on this list.
These projects are considered essential for the supply of critical materials of Europe and thus qualified to receive funding and other forms of support from the EU.
According to data published by the company Verde Magnesium, commercial operations are expected to start by the end of 2028, to increase up to 30,000 tons of metal magnesium per year, reaching a maximum production of up to 90,000 tonnes per year by 2036.
Therefore, according to the company, up to 10,000 new direct and indirect jobs will be created.
Verde Magnesium has as a majority shareholder the American company Amerocap LLC, which has investments with focus on energy sectors, natural resources and defense, with international placements.
In 2024, the shareholder entered, with a percentage of 30% of the social shares, the Romanian society ICO Magnesium SRL from Caraș-Severin, through which the geological prospecting activities in Budureasa would be carried out.
Verde Magnesium SRL was established in Romania, by Amerocap, in 2019, under the initial name of AMV Magnum. In 2024, the company declared a net profit of about 622,000 lei, total revenues of 2.3 million lei and 2 employees.
“The realization of the investment plans of Green Magnesium will support Romania to become a European leader in the latest industrial production. This will allow European companies to achieve their sustainability by reducing both imports and carbon fingerprint of their finished products.
The support from the EU will facilitate our goal to create a center for extraction, processing and recycling of metallic magnesium with reduced carbon emissions in Budureasa, Bihor County, Romania – with a positive effect on the supply chains in Romania and throughout the European Union ”support the company representatives.
