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Romania
Roşia Montană voices to be heard in illegal Romanian gold mine litigation
The Romanian parliament has finalized the ratification of the European Union – Armenia CEPA which was signed on November 24, 2017 in Brussels, Armenia’s Ambassador to Romania Sergey Minasyan said on Facebook.
The Court of Appeal maintained the stay of enforcement of Viorel Micula and others v Romania award, but overturned his decision on security, ordering that Romania should provide £150 million as a term of the stay.
The minister of culture says that the government has proposed the delay of the inclusion of Rosia Montana in the UNESCO World Heritage list until there is a final ruling in the case opened by Gabriel Resources against Romania.
Company is seeking $4.4bn in compensation for alleged losses related to its Rosia Montana gold and silver project, which Romania refused to approve following relentless protests.
Ten photovoltaic energy producers filed a request for arbitration proceedings against the Romanian government at World Bank’s International Centre for Settlement of Investment Disputes.
Gabriel Resources will have to wait until late 2019 to find out whether Romania will have to pay it $4.4 billion in alleged losses related to the company’s Rosia Montana gold and silver project.
Rosia Montana Gold Corporation entered a dispute with the Romanian state at the ICSID after the mining project was blocked as the site was declared a historic monument.
The EC claimed intra-EU investment treaty arbitration is in breach of EU law. If the CJEU were to confirm the decision of the EC, the application of the ICSID Convention within the EU would be seriously endangered.
Romania’s prime minister has suggested his government will withdraw an application to have the Roman gold-mining area of Roșia Montană declared a Unesco world heritage site, potentially reviving controversial plans to resume mining.
