As of February 20, the Romanian authorities were not informed about the ruling expected from the World Bank’s ICSID arbitration court on the Rosia Montana gold mining project dispute with Gabriel Resources, according to a response issued by the executive.

The updated value of the compensations claimed by the investor is $6.7 billion, the executive confirms.

The Romanian government explains the technicalities of the dispute, which consists of the different interpretations given to the failure of the project.

While the investor claimed that the Romanian authorities demonstrated bad faith and broke the bilateral investment agreements with Canada and the UK, the Romanian authorities claimed that the investor “was not able to get the necessary permits” because of their failures.

Romanian politicians blame each other for expected fines in Rosia Montana gold mining case. (Romania-Insider/Ukrainian metal)

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