Romaltyn Mining puts USD 14 mln in new gold mining technologies at Baia Mare

Mining company Romaltyn Mining Baia Mare, owned by Russian Polyus Group, will invest USD 14 million in mining technologies. The company intends to re-start the gold extraction in the area, but needs to finalize investments beforehand and it hopes to be able to start the processing activity towards the beginning of next year. Part of the investments will go to a EUR 2.4 million water cleaning station, which should be ready in five months. The station will clean the waters of Aurul pond, which holds the sterile from the gold processing activity. Romaltyn's sterile pond has triggered an international ecological accident, when sterile and cyanide leaked from the pond into the Lapus, Somex, Tisa and Danube rivers in 2000. Two years later, the Eu has created a new international code for the management of cyanide, which is used in the gold production process. Polyus Group expanded activities beyond the Russian Federation in 2009. The Company’s assets are currently located in 4 countries: the Russian Federation, Kazakhstan, Kyrgyzstan and Romania. The company owns the Romanian assets Romaltyn Exploration S.R.L., Romaltyn Mining S.R.L.