Romania is re-opening mines for rare Earth minerals to lure investments in electric battery plants, joining a Europe-wide initiative that aims for a bigger share of the global market.
The government is renewing operations at three mines that produce rare metals, including europium and dysprosium, for the first time in three decades, Economy Minister Niculae Badalau said in an interview in Bucharest. Talks with electric battery manufacturers are ongoing for an investment of more than 50 million euros ($57 million), he said.
“We want to become a member of the European Battery Alliance,” Badalau said. “That will ensure that at least one of the factories to produce electric batteries currently planned by several companies will be located here,” he said, without naming the potential investors.