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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.

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