RMGC contract under secrecy but some details revealed by Romanian PM Victor Ponta
Although the license issued by the Romanian Government in 1999 for the Rosia Montana gold mining project is still labeled as “CONFIDENTIAL”, Prime Minister Victor Ponta decided to “declassify” some matters of public interest . Ponta says the Parliament will vote on the project soon, expressing the wish that the political decision “will be preceded by a serious debate and not vice versa.”
Rosia Montana RMGC mining project expected to be cancelled after Romanian autumn social protests (Credit: Gabriel Resources LTD)
In relation to the bill sent to the Parliament: the exploitation license issued by the Government in 1999 and transferred to Rosia Montana Gold Corporation in 2000 has the secrecy level “CONFIDENTIAL”. Based on court decisions, it was irrevocably rejected the request to disclose info on the mining licenses, but I believe and take responsibility, that certain aspects of public interest can be published without violating the confidentiality and court decisions, said Ponta adding that:
According to article 4.1, the duration of the license is 20 years , from 1999 to 2019.
According to art. 10 the exploiter pays to the state budget a royalty of 2% of the value of the mining production, renegotiated recently to 6%.
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Art. 20 – if not otherwise specified in this license , the information will be kept confidential and will not be disclosed without the prior written consent of the other party.
I was asked what the financial consequences for possible cancellation of the project and based on the rejection of the law, it is very clear that the project will not be approved.
I have official and detailed information about the development, environmental and infrastructure investments carried out by the company between 1997 and 2012. They are estimated at approx. 550 million euros.
To the extent that the project is not done, Romania is obliged to pay greening the area. Romanian State should pay and decontaminate the area. (…) Overall, around 480-500 million euros are needed. Under the plan’s business , Romania’s revenues from the project would have been estimated at 3.6 billion euros , but such revenues can not be ranked as loses because they do not exist yet. But the company would have claimed revenues of 2.7 billion dollars. In case of a legal dispute against the Romanian state, the government will take defending measures. We will try to defend ourselves before international courts not to pay these damages, but there is a potential danger, concluded Ponta.