Romanian President supports Rosia Montana project if the benefit sharing is renegotiated
Traian Basescu brought as argument the development of the gold price over the last five years, and added that environmental protection must be well planned.
Rosia Montana Gold Corporation develops the mining project in Rosia Montana, Apuseni Mountains. The gold and silver mining project in Rosia Montana has been opposed for years by NGOs who said such a project would destroy the area.
In July, 2011, Gabriel Resources increased its ownership interest in the project to 80.69 percent through the acquisition of a minority shareholding for a net cash consideration of USD 1.15 million. Minvest S.A., a Romanian state-owned mining company, holds the remaining 19.31 percent interest.
Irina Popescu, irina.popescu@romania-insider.com