gabriel resources

Gabriel Resources is a precious metals company focused on the Rosia Montana gold project, based in Transylvania, Romania. Rosia Montana is in a region that has seen significant historic mining. Covering 2,388 hectares, the site is host to a mid-to-shallow epithermal system containing deposits of gold and silver. The most recent reserve estimate from a 2012 technical report shows proven and probable reserves of 10.1 million ounces of gold and 47.6 million ounces of silver.

Gabriel has invested more than US$760 million into Rosia Montana, but has undertaken little development at the site since the early 2010s, as Romania blocked further development.

In 2015, the company entered into arbitration through the World Bank’s International Center for Settlement of Investment Disputes over permitting at the site and suggested that Romania was in violation of bilateral investment treaties.

In March 2024, its case against Romania was dismissed by the ICSID, which also awarded Romania US$10 million in legal fees and expenses. The following year, Gabriel announced that the committee had ruled that a stay of enforcement of the award would continue if Gabriel guaranteed the proven solvency of the US$10 million. As of 2026, the company is awaiting a hearing.