Romania has asked the United Nations to make a Transylvanian village boasting 18th century houses and intact Roman mining shafts into a World Heritage site in move that could protect it from a gold mine project.
A battle over plans to build a huge gold mine in Rosia Montana, a Romanian village boasting intact Roman mining shafts and 18th century houses, has moved to an international stage.
Protests against the Rosia Montana mine project continued for more than 15 years and resulted in the largest demonstrations in Romania since the late 1980’s.
The President of Romania agreed to submit to the Romanian Parliament draft legislation approving termination of 22 bilateral investment treaties that Romania concluded with other EU Member States.
Gabriel Resources announces an update in relation to its ongoing bilateral investment treaty arbitration against Romania proceeding under the auspices of the World Bank’s ICSID.
The arbitration dispute concerns the treatment applied by the Romanian authorities to the investments performed by KMG and KMGI in their Romanian subsidiaries.
Brothers Viorel and Ioan Micula won the lawsuit against the Romanian state at the International Centre for Settlement of Investment Disputes (ICSID), and were awarded USD 200 million in damages.
Gabriel Resources has filed a request for arbitration before the World Bank’s International Centre for Settlement of Investment Disputes against Romania over the Roşia Montană gold/silver project,