Tectonic Metals gets funding for gold exploration in Alaska
The company's Flat gold project is located 40 km north of the giant Donlin gold project.
Canada’s Gabriel Resources Ltd. (TSX:GBU) became the centre of attention this morning as an important figure of Romania’s 1989 revolution, MEP Laszlo Tokes, left his party on Monday over Rosia Montana, a debated gold mine project in north-western Romania.
The Vancouver Sun reports Tokes based his decision on his opposition to heap-leaching, a particular method of extracting gold that uses cyanide to leach the precious metal from mined material.
“As the initiator of a resolution from the European Parliament banning the use of cyanide in the mining industry, I cannot accept the attitude of my party towards the mining investment in Rosia Montana,” Tokes was quoted as saying in a press release.
Gabriel Resources shares felt the impact of the news this morning, as they were down almost 3% in the Toronto Stock Exchange.
The Rosia Montana gold and silver project, one of the largest undeveloped gold deposits in Europe, has been criticized by environmentalists, archaeologists and non-governmental organisations fighting corruption, but it has the support of Romanian president Traian Basescu.
Another controversial issue related to the project is the diversion of a river in the area, Minister of Environment and Forestry Laszlo Borbely told Agerpres last week.
Gabriel Resources, which it is awaiting an environment permit to start works at Rosia Montana, may need a new permit because current legislation is unclear, added Borbely.
According to the company’s website, Rosia Montana has reported resources of 14.6 million ounces of gold and 64.9 million ounces of silver (measured and indicated), including 10.1 million ounces gold and 47.6 million ounces of silver reserves (proven and probable at grades of 1.46 g/t and 6.88 g/t respectively).
Rosia Montana is a community of sixteen villages located in a district known as the Golden Quadrilateral, in the South Apuseni Mountains of Romania.
The area has been one of Europe’s most prolific mining districts for over 2000 years.
The Rosia Montana concession zone, which affects four of these villages, was subject to open pit mining by the state mining company, Minvest, until 2006. Following the closure of the mine with the loss of thousands of jobs, unemployment is reported to be 80% in the region.
20 Comments
Gabriela Dobrota
The project will not be done. Not because is dangerous , the specialist know this, just because RMGC is not working on the project. Except few lands and 50 jeep they are not practically doing nothing.
Guest
This project is a nonsense. Romania has a lot to lose. The people from the region could make money from truism and in long tern they will be better of. The politicians from Romania should find solutions for developing the area rather than offer it to destruction for the sake of the money they get from bribery. Shame on them!
Licastan
maybe the people there should decide for themselves if they want to have a future in mining or turism (or maybe bothe). What do you say?
Sairj
The mining techniques planned for Rosia Montana using cyanide and mercury threaten not only the beauty of the landscape but the health and wellbeing of the whole region… it is environmental suicide in the name of money in the pockets of RMGC. Romania will profit in no way whatsoever since jobs will be no more than 300 over 15 years – the rest will be outsourced to cheap-labour countries such as the Ukraine. All Romania will end up with is a scarred and traumatised beautyspot, the loss of heritage, health issues and birth defects. Way to go, RMGC and the Romanian government. Bravo.
Licastan
outsourcing mining jobs to another country? You don’t make any sense. And there are experienced miners in the commune, because, you know, they’ve been mining there for 2000 years. And maybe you should get your facts straight, mercury is only in your imagination, so is the destruction. And cyanide is used in about 90% of the world’s gold mines.
Lucas K
the mining techniques planned would be some of the most advanced in the world, like they use in Sweden and Finland, techniques considered safe. But I can see that you’ve got a lot of false information. For example the project is for 30 years and there would be about 3000 jobs created. Maybe you should read a little (a lot) more before you start bashing
Daniela
We do not need this disastrous project in Romania. We are prepared to do anything to stop it.
Licastan
and by “we” i guess you mean you and your well-funded NGO’s, right? Because the people in Rosia Montana want the project to start, almost all of them. And I read about a recent poll where 80% of Romanians agree to this project. so go tie yourself to a radiator again.
Corina
Come on, Licastan! you are paid by RMGC to post here! And that poll is ordered by RMGC too…with silly questions like ” do the people from Rosia Montana need a job?” What can the people ask to this question??? BTW they didnt ask me, so, you cant say that 80% from all the romanians agree to that project!
Alecs the hunter
Lica, update your infos, or at least try to use trustable sources :)))) everybody here in Romania knows that poll was bought by RMGC and also that the same poll company has a history in dubious/deceiving polls (see Moldova elections poll) And stop with the same whining about the work places. Your company, RMGC is responsible for the poverty in Rosia Montana since ’96 when they came and attached themselves like a parasite 😉 This project will never happen….80% of the romanian people know that 😀
Licastan
“everybody here” meaning again the same NGO-s. The same NGO’s who kept yelling and yelling that they represent the “voice” of Rosia Montana, but the truth is that most of the people there want the project to start. And the sad part is that you know it. And the sadder part is that you don’t care. You just accuse everyone who doesn’t bash the project. You even accuse all the people living in Rosia Montana. And you pretend to “save” them? How can you save someone forcefully? So cut the bs, you’re not fooling anyone anymore
Calin
I think it’s really tough for the people there to live in such high unemployment rates, but fortunately the mining project will create thousands of jobs. Unfortunately, however, our authorities keep delaying year after year
GabyStan
LoL, this Calin is everywhere, he’s paid by rmgc to post favourable comments for the company. Shame on you, scum!
adrian
according to official site of gabriel resources ltd, Washington Group study., the number of both direct and indirect jobs is no more than 634 (for the period of the exploitation). Of which, more than one half will NOT be taken by villagers, for not having high qualification, according to Mining Consultants study, also available on the official website.
The romanian version of RMGC website (with thoussands and thoussands of jobs) is a commercial one and not the official one !
Alecs
Save Rosia Montana! RMGC (Gabriel) go home to Barbados! We don’t need your filth.
Leoliv19
this project will never happen. you could just invest in something else.
Demetra_matei
rmgc go home!
Baditaflorin
Ths project will never start. Sell your stocks and buy apple stock or something.
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Davethebrave54
As a mining professional, I would like to ask that the Romanian Government makes sure that the wishes of the local people and the environment are allowed for in the decision making process, and that local jobs and wealth are created for the communities nearby. Why not let Gabriel resources lead the way in guaranteeing a sustainable and environmentally friendly project? Cyanide and Arsenic are commonly used or produced during gold mining processes and in most other countries of the world, measures are taken to protect the environment, such as allowing the unused cyanide to stay in lined ponds where it is broken down to Nitrogen and Carbon dioxide gases, which are non-toxic to the environment. Mercury is seldom used in Gold recovery now that better more efficient methods of gold concentration are available. The Romanian people need to benefit. Their government has this responsibility.