Gabriel Resources Gets More Bad News on Rosia Montana

Gabriel Resources (TSX:GBU) suffered another setback on Tuesday in its quest to build the Rosia Montana mine in Romania. AFP reported that the Romanian government rejected a new mining bill that would have cleared the way for the huge gold project that has been a lightning rod for criticism due to its proposed use of cyanide.

As quoted in the market news:

A total of 160 members of the lower house voted for the draft law, 44 short of the minimum needed for the text to be adopted.

The vote comes as a new setback for Canada’s Gabriel Resources, a month after the upper house rejected another draft.

Under the bill, mining operations could be declared “projects of exceptional public interest provided direct and indirect benefits surpass the negative impact on the environment”.

Read the full article by AFP here