A law to this effect will be drafted by the end of February 2013 to fast track the mine licensing process.
Romania economy minister Varujan Vosganian told Bloomberg that the government will reopen mines that were previously shut down as investors were now exhibiting interest in the country’s resources.
"We’ve been noticing an increase in investor interest in the last two or three years," Vosganian said.
The country had closed uranium and coal mines following its entry into the European Union in 2007 due to a failure to meet environmental standards; the country suspended 550 outdated mines in total in 2009.
Declining resources in other countries, has now forced investors to explore the Romania’s mining sector.
Vosganian noted that private funds and new technologies will aid the reopening.
