Gabriel Resources Faces New Romanian Protests


News: Canadian mining company Gabriel Resources faced new protests against its Rosia Montana gold project in Romania on October 13 , Mining.com reports. Thousands of protestors are reported to have gathered across the country in a bid to stop the project from going ahead. The company has threatened to sue the government for CAD4.15bn ( US$4bn ) if it votes to stop the development.

BMI View: We expect Romania's mining sector to see only modest growth over the coming years as coal output, which accounts for the majority of the mining sector's value, sees little expansion. However, one bright spot, which will mitigate against some of the losses in the coal sector, is that the gold sector will see rapid growth from its low base. Overall, we expect the mining sector value to decline to US$5.93bn in 2017, from US$5.4bn in 2012.

This article is tagged to:
Sector: Mining
Geography: Romania, Canada