Feb. 18, 2009
Despite attempts to prevent construction of a goldmine in Rosia Montana, Romania (Transylvania) the Canadian-Romanian joint venture Rosa Montana Gold Corporation (RMGC) reportedly remains determined to carry the project through, according to Hungarian news daily Népszabadság online. There are also signs that the new governing coalition in Romania will also put its weight behind the plans.
The project would involve relocating the entire population in order to extract the 330 tonnes of gold and 1,600 tonnes of silver that lie underneath it. RMGC has been buying up houses in the village since 2002, and a nearby residential development, being built to house the former residents, is scheduled for completion at the end of this year.
US millionaires John Paulson and Thomas Kaplan reportedly each hold a 20% stake in the Canadian party in the joint venture, Gabriel Resources Ltd.
