Canada-based company Carpathian Gold received from Romania’s National Agency for Mineral Resources (ANRM) a 20-year mining license for gold exploitation in Rovina, 20 km from Rosia Montana. It has received the license via its subsidiary Samax Romania.

According to the local law, the license will come into force after a final evaluation by several government departments.

It is the first time when Romania offers a mining license without the involvement of a state company, reads a Carpathian Gold press release, cited by local Mediafax.

The company will update the preliminary economic assessment from 2010, revising the project’s costs.

Carpathian Gold’s main gold exploitation project Riacho dos Machados Gold is in Brazil, where the company is the sole owner.

Another Canadian company, Eldorado Gold Corporation announced earlier this week that it completed the feasibility project for a mining project in Certej, in the Apuseni mountains. According to the study, Eldorado Gold expects to extract gold of over USD 3.1 billion (EUR 2.8 billion) in 18 years.

editor@romania-insider.com