MPR Partners has advised Bucharest-based mining company Verde Magnesium on its successful bid in the public tender organized by the National Agency for Mineral Resources of Romania for concession rights on a magnesium mining perimeter in Western Romania.
According to the firm, the mining license will be signed soon, the initial investment into the disused mine and renewable-energy-powered magnesium processing facilities is estimated at USD 1 billion, and production is set to start in 2027.
Verde Magnesium is a Bucharest-based mining company backed by US-based private equity investor Amerocap.
"We are looking forward to signing the mining license soon," Verde Magnesium CEO Alexandru Rosu commented. "This will allow us to start implementing our project with the ambitious goal of delivering a local green solution to the EU's industry supply chains for metallic magnesium."
The MPR Partners team was led by Partner Dana Radulescu and included Founding Partner Gelu Maravela, Partner Anca Baitan, and Associate Carmen Banica.
MPR Partners did not respond to our inquiry on the matter.