The derailment of the plans led Canadian mining company Gabriel Resources to sue the Romanian government for $5.7 billion before the Washington-based ICSID.
Meanwhile, Gabriel Resources has taken Romania before the World Bank’s International Centre for Settlement of Investment Disputes, seeking $4.4 billion (3.7 billion euros) in damages.
Cyprus-based offshore EP Wind Project (Rom) Six Ltd claims that Romania has breached the Energy Charter Treaty.
Gabriel has provided notice to Romania of a dispute with regard to Romania’s application to UNESCO in relation to Roşia Montană and has reserved its right to commence a further arbitration.
Romania has won the second lawsuit filed against it by brothers Ioan and Viorel Micula, who accused Romania of allowing the development of a black market for the sale of alcohol.
Romanian and US environmental justice activists demonstrated in Washington, DC, outside a World Bank tribunal hearing on a case brought by Canadian-based Gabriel Resources.
The Government took this decision to unlock the accounts of Romania’s air control company Romatsa, frozen by the Miculas.
The European Court of Justice on June 18 canceled a European Commission decision dating 2015, which established that Romania’s payment of compensation to Romanian-Swedish investors Ioan and Viorel Micula constituted illegal state aid. The European Commission also ordered the Romanian Government to recover the money already paid to the investors following an international court’s decision.
In 2015, Gabriel Resources sued Romania before of the ICSID, asking for a reported four billion dollars in damages, after protests halted plans for Europe’s largest gold mine.
Hydro-Québec is a Canadian company producing and distributing electricity and one of the largest energy producers in the world.
Today, the 6th of February 2019, the Romanian town of Roşia Montană celebrates its 1888th year of existence. Over the past 20 years, residents have fought against a proposed multi-billion dollar mining project.
Investment funds backing a slew of big-dollar corporate lawsuits has boomed over the past decade, fueled by favorable court rulings and investors seeking juicy returns.
The Romanian parliament has finalized the ratification of the European Union – Armenia CEPA which was signed on November 24, 2017 in Brussels, Armenia’s Ambassador to Romania Sergey Minasyan said on Facebook.
Romania’s prime minister has suggested his government will withdraw an application to have the Roman gold-mining area of Roșia Montană declared a Unesco world heritage site, potentially reviving controversial plans to resume mining.
With Gabriel Resources seeking US$4.4 billion in damages, Alburnus Maior, a prospective amicus curiae in the arbitration case, announces that it aims to file its brief to the ICSID Tribunal until September 2018 at the latest.
Gabriel Resources Ltd will seek $4.4 billion in damages from Romania for losses related to its long-stalled Rosia Montana gold mine project in a claim that the Canadian miner plans to file with a World Bank Tribunal.
The law approving the termination of agreements on mutual promotion and protection of investments concluded by Romania with other Member States (Intra-EU BITs) was published in the Official Gazette.
The Romanian Parliament sent to the Romanian President for promulgation the Law allowing for the termination of the Bilateral Investment Treaties between Romania and other Member States of the European Union.
Romania has asked the United Nations to make a Transylvanian village boasting 18th century houses and intact Roman mining shafts into a World Heritage site in move that could protect it from a gold mine project.
What connects two proposed gold mines, one in the high-altitude wetlands of Colombia and one in the Carpathian Mountains of Romania?