Romania Rejects Rosia Montana Mine

Precious Metals

A huge open-pit gold mine put forward by Gabriel Resources (TSX:GBU), has been rejected by the Romanian government, reports The Toronto Star.

As quoted by the market news:

A special Romanian parliamentary commission overwhelmingly rejected a draft bill that would allow Canada’s Gabriel Resources to set up Europe’s biggest open-pit gold mine.

Gabriel has been waiting 14 years for approval to use cyanide to mine about 314 tons of gold and 1,500 tons of silver in the town of Rosia Montana, in the Carpathian mountains in Transylvania. The state also holds a minority stake in the mine.

Click here for the full Toronto Star story

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