Romanian parliamentary committee rejects special bill on gold mining project

By bne IntelliNews November 12, 2013

An ad-hoc parliamentary committee has rejected the special bill drafted by the Romanian government with the aim of speeding up the controversial gold mining project Rosia Montana, HotNews reported.

The committee recommended the MPs to reject the bill and draft a brand new law for such projects in general – and not for a particular project.

If the MPs follow the committee’s recommendations and reject the government bill, which is highly likely, the gold mining project can still be pursued based on standard legislation. The terms under the standard legislation are less favourable for the Romanian state -- meaning lower royalties and a smaller share in the project company.

But given the controversy, the relevant bodies are less likely to issue the necessary permits under standard legislation without political endorsement. More likely, they will delay until the new legislation is drafted -- postponing thus the project indefinitely.

Both key ruling parties PSD and PNL have voted against the special bill drafted by the government. But the senior ruling party - leftist PSD, has expressed a visible discontent with the stance of its junior partner. Centre-right PNL has criticised leftist PSD over the special bill from the moment it was drafted, most likely in order to capitalise on the public criticism to the environmental impact of the gold mining project.

The lack of consensus on this particular piece of legislation has meanwhile widened, generating rising tensions within the ruling coalition. The tensions developed up to the point where they seriously question the single candidacy of PNL president Crin Antonescu in next year’s presidential elections on the joint ticket of the PSD-PNL coalition [USL].

Related Articles

Romanian software producer Bitdefender takes over French peer Profil Technology

Romanian security technology company Bitdefender has acquired its French peer Profil Technology as part of its expansion strategy on the corporate segment.  The terms of the deal were not ... more

Czech CPI buys huge Central European retail portfolio

Czech real estate investor CPI Group has bought a large portfolio of Central European retail assets, local media reported on January 17. The investor, which has grown its holdings rapidly since ... more

EBRD, EIB lend €82mn to Moldova for key gas pipeline toward Romania

The European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) will lend €41mn each and the European Union will add a €10mn grant to fund a pipeline to link ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss