Hungary opposes stalled Romanian gold mine project

Analysis

Hungary opposes the stalled Rosia Montana gold mine project by Canada's Gabriel Resources Ltd., which plans to use cyanide to extract the ore, Mediafax reports, citing Romanian Environment Minister László Borbély. 

Romania asked Hungary in February this year to make a non-binding recommendation on the project, as Romania is carrying out an environmental impact assessment on the mine, Borbély was cited as saying.

In 2007, Gabriel was forced to halt the investment after the Romanian government grew hostile toward the project, eventually suspending the permit approval process. By that year, Gabriel had spent over $300 million on the development of the Rosia Montana project

Hungarian opposition to the project won’t stop Romania carrying out the assessment, Borbély said.

ADVERTISEMENT

Czech economic confidence weakens in July Analysis

Czech economic confidence weakens in July

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.