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The government transferred Minvest Rosia Montana from Dan Sova (PSD) to the Economy (PNL)
The Minvest Rosia Montana company, set up by the government to deal exclusively with the project Rosia Montana, was transferred from the social-democrat (PSD) minister for investments Dan Sova to the liberal (PNL) ministry of economy, as they considered that Sova ‘had ended his deal’when he drew up a law on the issue.
The decision was taken by decision approved on Wednesday by the government in a meeting at which end the premier’s adviser on governmental strategies Mirel Palada, sent to present the approved normative documents stated that he did not know anything about it.
At the end of April, the government decided, through a decision, to set up a new company which could deal with the project Rosia Montana and work under the supervision of the minister delegated for projects of infrastructure of national interest and foreign investment, Dan Sova. The new company was made up from the reorganisation, by partial division of the National Company of Copper, Gold and Iron Minvest Deva, which owns at present 19.3% of the shares of the Rosia Montana Gold Corporation (RMGC) controlled by the Canadian company Gabriel Resources, and which functioned under the supervision of the ministry of economy led by a liberal(PNL) minister..
In August, the government approved a draft law, initiated by the department led by Sova, who regulates the exploitation of ores in the area Rosia Montana.
Considering that minister Sova ‘ended his mission’through the coordination of discussions between the Romanian party and the Canadian investor and got a draft law which includes the result of these discussions, the government transferred the company Minvest Rosia Montana to the ministry of economy again.
The argument included, at the beginning of November, in the draft law is the transfer of the right of administration on the society Minvest Rosia Montana to the department for infrastructure projects and foreign investment, led by Sova, had as basis the creation of premises that this department get the authority to act as coordinator of the discussions led by the institutions involved in the process of agreement and authorisation of the mining project in Rosia Montana with the owner of the exploitation owner and the majority shareholder.
“As the result of the discussions led by the institutions involved in what is the process of agreement and authorisation of the mining project in Rosia Montana with the owner of the exploitation licence and its majority shareholder finalised in a draft law with regards to the mining exploitation, which, at present, is under the debate of the parliament, it is clear that the mission of the department for infrastructure projects and foreign investments ended, so that the administration of the shares package owned by the Romanian state with the company Minvest Rosia Montana must go back and stay with the ministry of economy’ the draft of normative document says.
Rosia Montana Gold Corporation is controlled by the Canadian company Gabriel Resources with 80.46% of the social capital, behind the company being big names in the world business such as the billionaires John Paulson, Beny Steinmetz and Thomas Kaplan.
The company owns in Rosia Montana ( Alba county) by the concession for exploitation, the most important ore being gold, evaluated at approximately 300 tons of gold and 1,600 tons of silver.