CEO of Gabriel Resources denies media quotes about USD 4 bln damages from Romanian state

The CEO of Canadian mining company Gabriel Resources has denied reports the company will seek USD 4 billion in damages from the Romanian state should the Parliament reject its gold mining project. In a statement released on the company's website, CEO Jonathan Henry denied media reports which quoted him as saying company would seek USD 4 billion in damages from Romania if its gold mining project in Rosia Montana was rejected.

According to the international media story, ran in the Globe and Mail, Henry said he would resign if a lawsuit against Romania started, as he is a specialist in mining, not in litigation.

However, in his statement, Henry said he was misquoted.

He said that he respects Romania, its citizens, its Government and Parliament, and that Romanians only will decide what is in the country's interest.

He added: “Even if it is natural for any company to do whatever is needed to protect its interests- and Gabriel Resources will not be the exception to that – we will take note of any decision taken by the Government and the Parliament. The company will provide all information so that the people can make an informed decision."

Gabriel Resources expressed hope for a serious debate in the Chamber of Deputies, which it hopes will lead to a favorable vote, after the special commission in the Senate rejected the gold mining project. According to Romanian media, the Parliament is to give its vote on Thursday. These statements came after Prime Minister Victor Ponta said the Rosia Montana gold project, majority owned by Gabriel Resources, was a case closed, and that the Parliament will probably vote against it, and that Romania will most likely stand to pay damages to the Canadian company. Meanwhile, anti cyanide-based mining protesters continued to take to the streets in downtown Bucharest. Over the last 11 days, thousands of people have marched against the gold mining project. editor@romania-insider.com