Critical Metals outlines $1.85 billion Romanian refinery concept

Critical Metals ($CRML) released further plans for a Romanian refinery intended to process concentrate from its Tanbreez rare-earth project in Greenland. The proposed facility is designed for up to 100,000 tonnes of concentrate annually, with a preliminary capital-cost estimate of approximately $1.85 billion, subject to a 25% estimation range. An existing term sheet envisages the refinery receiving half of Tanbreez’s concentrate production.

The company’s model projects approximately $2.2 billion of annual revenue before operating costs, taxes and capital recovery. That figure is a scenario based on assumed prices and production, not contracted sales or current revenue. Engineering, metallurgical testing, environmental work, permits, feasibility studies and investment decisions remain necessary. Proposed process improvements and product-purity targets should likewise be treated as development objectives rather than fully validated commercial performance.

Sources:

• Critical Metals — proposed refinery and process update