April 22, 2024
Verde Magnesium granted mining rights in Romania
The mine could be the first new European magnesium metal project in decades and produce as much as 90,000 tonnes of magnesium a year, accounting for around 50% of the European Union’s demand. The main use for the metal is in aluminum alloying, as the addition of magnesium produces high-strength, corrosion-resistant alloys. They are commonly used in the making of beverage cans and as structural components of automobiles and machinery. Verde, which aims to become the EU’s first dedicated primary metallic magnesium producer, also plans to build processing facilities that would use renewable power to recycle aluminum. Over 90% of
