{"id":662,"date":"2024-06-26T08:11:58","date_gmt":"2024-06-26T08:11:58","guid":{"rendered":"https:\/\/ofero.news\/?p=662"},"modified":"2024-06-26T08:11:58","modified_gmt":"2024-06-26T08:11:58","slug":"gabriel-resources-intends-to-challenge-decision-in-rosia-montana-gold-mining-case","status":"publish","type":"post","link":"https:\/\/ofero.news\/?p=662","title":{"rendered":"Gabriel Resources intends to challenge decision in Ro\u0219ia Montan\u0103 gold mining case"},"content":{"rendered":"<p>Gabriel Resources, the majority shareholder of Ro\u0219ia Montan\u0103 Gold Corporation, intends to challenge the decision in the international arbitration case targeting the Ro\u0219ia Montan\u0103 gold mining project, <a href=\"https:\/\/www.profit.ro\/insider\/companii\/ultima-ora-dosarul-rosia-montana-canadienii-ataca-decizia-favorabila-romaniei-din-arbitrajul-de-la-washington-si-neprelungirea-licentei-de-concesiune-pentru-exploatare-21642871\" target=\"_blank\" rel=\"noopener\">Profit.ro<\/a> reported. Romania <a href=\"https:\/\/www.romania-insider.com\/romania-wins-arbitration-gabriel-resources-rosia-montana\" target=\"_blank\" rel=\"noopener\">won the case in March<\/a> when the International Center for Settlement of Investment Disputes in Washington (ICSID) ruled that the country wouldn\u2019t have to pay any compensation to the Canadian company for stopping the gold mine.<\/p>\n<p>Gabriel Resources asked for compensation of up to USD 6.7 billion from the Romanian state in the case. However, ICSID rejected the claims filed by Gabriel Resources and ordered the Canadian company to reimburse Romania for the arbitration costs of USD 1.43 million and for a portion of the legal \u2013 some USD 10 million in total.<\/p>\n<p>\u201cThe Company intends to challenge the Arbitral Decision through the annulment process prescribed by the ICSID Convention. The annulment application will be filed on or before July 7. An annulment is not an appeal of the merits of the arbitral decision, but a procedure which would, if successful, set aside such arbitral decision and extinguish the costs order,\u201d Gabriel Resources announced, according to Profit.ro.<\/p>\n<p>Gabriel Resources started the arbitration case against Romania at ICSID in 2015. The following year, the government of prime minister Dacian Ciolo\u0219 filed a request to include the ancient Roman mining site at Ro\u0219ia Montan\u0103 in the UNESCO heritage list. The process was suspended by the social democrat Government of Viorica D\u0103ncil\u0103 but resumed by the liberal government of Ludovic Orban.\u00a0<\/p>\n<p>In July 2021, the Ro\u0219ia Montan\u0103 site was included in the UNESCO World Heritage list, a decision that prevents any new gold mining operations at Ro\u0219ia Montan\u0103.<\/p>\n<p>Gabriel Resources used this decision to support its damage claim.<\/p>\n<p>irina.marica@romania-insider.com<\/p>\n<p>(Photo source:\u00a0<em>Inquam Photos \/\u00a0<a href=\"https:\/\/inquamphotos.com\/users\/ovidiudumitrumatiu\">Ovidiu Dumitru\u00a0Matiu<\/a>)<\/em><\/p>","protected":false},"excerpt":{"rendered":"<p>Gabriel Resources, the majority shareholder of Ro\u0219ia Montan\u0103 Gold Corporation, intends to challenge the decision in the international arbitration case targeting the Ro\u0219ia Montan\u0103 gold mining project, Profit.ro reported. Romania won the case in March when the International Center for Settlement of Investment Disputes in Washington (ICSID) ruled that the country wouldn\u2019t have to pay [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-662","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/662","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=662"}],"version-history":[{"count":0,"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/662\/revisions"}],"wp:attachment":[{"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=662"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}