Mexico’s proposed higher mining royalties could block nearly $7bn in investments
The Mexican government proposed raising mining royalties under the argument that metal prices have risen in recent years.
The Rovina Valley project is located in the southern part of the Apuseni Mountains.
Romania’s National Agency for Mineral Resources has granted Canadian explorer Carpathian Gold Inc. (TSX:CPN) a 20-year mining license for its Rovina Valley gold and copper project, strategically located about 20 km west of Gabriel Resources’ (TSX:GBU) debated Rosia Montana.
This is first time Romania grants a mining license without the involvement of a state-owned enterprise.
Carpathian’s stock soared on the news. It was up 200% to 0.0150 at 11:00 am ET.
The Toronto based company, through its wholly-owned subsidiary, Samax Romania S.R.L., will now work on updating the Preliminary Economic Assessment of 2010, to provide revised project costs and evaluate scalability options, Carpathian said in a statement.
The Rovina License lies within the Metalliferi Mountains, in the southern part of the Apuseni Mountains, in the area known as the Golden Quadrilateral, one of Europe’s most prolific mining districts for over 2,000 years.
Map courtesy of Gabriel Resources.
2 Comments
rayban
Some good news on countries and national inerests in resources , neat . Resource nationalism has been a huge issue for a while now .
CarnetBleu
of course my comment did not get approved! Coming to steal resources, just great!