The proposed law, if adopted by the parliament, will provide framework to boost the development of the mine at Rosia Montana and other mining projects in Romania.
The draft law has been passed on certain measures related to the exploitation of the gold-silver deposits from Rosia Montana and stimulation and facilitation of mining development in the country.
Gabriel Resources controls the mine project through its local unit, Rosia Montana Gold (RMGC), in which Romanian Government also has share that will increase to 25% from the current 20%, by the time construction begins.
Gabriel Resources president and chief executive officer Jonathan Henry said the Romanian Government’s decision to approve a law specific to the Rosia Montana Project represents a significant milestone for all stakeholders.
"A Parliamentary adoption of the proposed law will enable Gabriel to build Romania’s first modern mine, creating direct and indirect employment, and providing significant cultural, environmental and economic benefits," Henry added.
