Euro Sun Mining raised money for mining projects in Romania
Euro Sun Mining has raised CAD 22.32 million in funding (USD 16.6 mln). The company operates the Rovina gold project and another prospect in Romania and will use the funds for exploration and the development of its mining projects.
In 2018, the Romanian Government completed the concession license ratification, allowing the Canadian company to start exploiting gold and copper at Rovina, in Hunedoara county.
In 2015, the National Agency for Mineral Resources (ANRM) granted the exploitation license to the Canadian group for 20 years. At that time, the value of the mine’s potential production was estimated at USD 3.6 billion for gold and USD 1.7 bln for copper, with the state relying on royalties of USD 310.4 mln.
The Rovina gold deposit, the second largest in Europe, contains measured and indicated resources of 204 tons of gold and over 635,000 tons of copper.
- Canadian mining companies rush for Balkan mineral resources
- Protest against Rio Tinto’s lithium mine in Serbia
- Metalfer opens mine in Serbia
- Zijin’s investments in mine in Bor, Serbia
- Romgaz, Lukoil Overseas and PanAtlantic Petroleum quit Black sea exploration rights
- Eastern Mining Company step closer to Exploitation Permit in Bosnia and Herzegovina
- Macedonia: How gold is being mined and is there a danger to the environment?
- Bosnia local community halts gold exploration
- How valuable is Kosovo’s mineral wealth?
- Mundoro Capital’s strategic mining project locations in Serbia and Bulgaria, disciplined capital