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18/07/2024
Mining News

Awaiting Verdict: USD 6.7 Billion Litigation for Rosia Montana Gold Mining Project in Romania Still Unresolved

By February 20, the Romanian authorities were not informed about the ruling expected from the World Bank’s ICSID arbitration court on the Rosia Montana gold mining project dispute with Gabriel Resources, according to a response issued by the executive and quoted by Economica.net.

The updated value of the compensations claimed by the investor is USD 6.7 billion, the executive confirmed.

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The Romanian government explains the technicalities of the dispute, which consists of the different interpretations given to the failure of the project.

While the investor claims that the Romanian authorities demonstrated bad faith and broke the bilateral investment agreements with Canada and the UK, the Romanian authorities claim that the investor “was not able to get the necessary permits” [because of their failures].

 

Source: Romania Insider

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