Major mining investment in Romania to exploit 250 tons of gold

Rosia Montana Gold Corporation received today the go-ahead from the Romanian Presidency for its project to exploit resources of 250 tons of gold, 800 tons of silver evaluated at USD 7 billion over the next 16 years. The project in the region of Rosia Montana, in the heart of Transylvania has been stalled due to environmental concerns since 1997, with several governments avoiding to take responsibility. The investment will place Romania on the map of major international gold producing countries, at a time when the ounce of gold has reached a record USD 1900.

Rosia Montana Gold Corporation is owned by Gabriel Resources which is listed on the Toronto stock exchange Gabriel Resources este cotată la Bursa din Toronto (GBU). Over 80% of the shareholders are major US companiessuch as: Newmont Mining, second gold producer in the world, Electrum Strategic Holdings LLC and Paulson & CO.