He added that the royalty system will be changed, considering that Romanian royalty rates stand at around 4%, while the European average exceeds 20%.
At the end of last year, the Government led by Emil Boc announced it had decided to double the royalties on gold, silver and platinum extraction, from 4% to 8% of the value of production, and increase royalties on other mineral products, such as coal and mineral water, from 4% to 6%, with 20% of the fees to be transferred to the local budgets.
Through that ordinance, the Government planned to raise the royalties on the production of coal, metal ores, aluminum and aluminous rocks, radioactive metals, rare earths, precious and semi-precious stones, mineral, therapeutic and geothermal waters, non-fuel gases, and therapeutic mud and peat to 6%, and the royalties on precious metal ores to 8%.
The biggest gold deposit in Romania is located in Rosia Montana, Alba county, and is leased to the Rosia Montana Gold Corporation (RMGC). The deposit is estimated to contain around 300 tons of gold and 1,600 tons of silver.
At the end of March 2012, the Government led by Mihai Razvan Ungureanu announced the ordinance increasing royalties was not published in the Official Journal, which means it cannot be applied.