Romania Econ Min: Lack of Decision Making Could Kill Rosia Montana Gold Mining Project

Videanu also said Tuesday in Rosia Montana, western Romania, that all parties interested in this project must team up and work closely to ensure the best conditions for the environment and for the protection of vestiges in the area, adding the openness to dialog will pave way for solutions.

The minister underscored that Romania must look trustworthy in the eyes of prospective investors, as the lack of foreign direct investments would make it impossible for the Romanian state to invest in the local mining sector.

"If we are all open to find the best solutions and to bring light upon questions asked by all those concerned about the ecological aspects and the monuments in the area, which are grounded and fair, I believe we shall find the best way to carry through with investments," Videanu said.

Videanu said he decided to visit Rosia Montana to see for himself the conditions and situation in the area and because his ministry plans to get more involved in developing this project.

According to Videanu, Economy Ministry experts deemed Rosia Montana "a very good project."

Videanu said the non-energy mining industry should be upheld and based on the principle of efficiency, considering Romania could rejoice an outstanding market in the European Union, as the EU currently faces a deficit in terms of mineral resources.

The gold mining project in Rosia Montana, which has been on the table since the 1990s, is highly controversial because of the environmental issues the investment would cause because it entails cyanide mining. Another issue of concern is the preservation of archeological sites in the area.

The last key hurdle the Rosia Montana Gold Corporation, a joint-venture with the Romanian state, needs to pass is an environmental impact study approval by the Romanian Environment Ministry. The country's environment minister has repeatedly said the final decision belongs to the Government, but warned authorities must be very careful about approving a cyanide mining project after the cyanide spill ten year years ago.