Unnamed sources reported earlier the bill had been introduced on the agenda for Tuesday’s cabinet meeting, which was not made public.
Prime Minister Victor Ponta said more than a month ago negotiations over Rosia Montana would be completed by the start of the Parliament’s fall session, in September.
Canada’s Gabriel Resources will start exploiting gold reserves in Rosia Montana, western Romania, in November 2016, as the area’s urban plan should be approved by the end of this year, according to a draft agreement between the Romanian Government, Gabriel Resources, and Rosia Montana Gold Corporation.
Also according to the draft agreement, Romania’s stake in the venture should rise 5.69%, to 25% of the shares, if all permits are issued in due time.
The investor will pay the government royalties of 6% of production value, and the Romanian state may require Rosia Montana Gold Corporation (RMGC) to pay the royalties in kind.
The two parties estimated the Rosia Montana mining project would generate revenues of around $2.3 billion to the state budget and local budgets and would inject around $2.9 billion in the Romanian economy, at a reference price of $1,200 per ounce of gold.
Rosia Montana Gold Corporation is 80.69% controlled by Canadian mining company Gabriel Resources, while the rest is held by the Romanian state through mining company Minvest. The company has a lease on Romania’s biggest gold resource, estimated at around 300 tons of gold and 1,600 tons of silver.
The Rosia Montana gold mining project, which has been on halt for several years because of environmental concerns entailed by cyanide mining, has been included in the Government’s national investment plan presented in July.