‘Strong’ local support for Euro Sun’s Romania project
Romania’s National Agency for Mineral Resources will host a public meeting on June 19 to discuss the government’s draft approval of a mining licence for the Rovina Valley project.
Developed by TSX-listed Euro Sun, the gold and copper project is located in west-central Romania.
Euro Sun president and CEO Scott Moore said the company had received strong local support for the project. The company has received written letters of support from the local communities surrounding the project, as well as the county of Hunedoara.
He added that Euro Sun expected to be granted a licence following the meeting.
“Rovina is a discovery by the company and represents a multigenerational project using the highest environmental standards and without the use of cyanide. It will provide stable, high-paying employment and substantial economic benefits to the Romanian State,” said Scott.
An April 2010 preliminary economic assessment for the Rovina project estimates a mine operation with average yearly gold production of 196 000 oz over 19 years at cash costs of $379/oz gold. The project demonstrated a pre-tax net present value, at an 8% discount, of $316-million and an internal rate of return of 15.7%
- Serbia: deposits of gold and copper
- Who are the main players in the ore exploration business in Serbia
- Serbia Lece gold mine in the hands of a phantom company from Dubai
- Eldorado and Minvest Deva Certej mine proposal rejected in Romania
- Adriatic Metals’ Veovaca project in Bosnia received exploitation permit
- What Are The Major Natural Resources Of Macedonia?
- Lukoil Romania Petrotel oil refinery prepares for Iran oil
- Sweden eyes cobalt mining on home turf
- Oil and gas company MOL cuts CAPEX, focus on projects in Croatia, Russia, Pakistan
- Mining concessions, fees and challenges for investors in Serbia