Rosia Montana Gold Mine Project

Huge open cast gold mine to flood valley with cyanide leaching pond

The Rosia Montana gold mine project in Romania is designed to be Europe’s largest open cast gold mine. If built, it would displace hundreds of families, destroy many of Rosia Montana’s significant archaeological sites, and flood the valley with a cyanide leaching pond. In 2002, the IFC was considering providing financing to the project sponsor Gabriel Resources, based in Canada. The local organization, Association Alburnus Maior, which was founded in September 2000 by the villagers of Rosia Montana to oppose the Gabriel Resources' gold mine project, extended their campaign to stop the public financing of the project. With the support of international NGOs, representatives of Alburnus Maior came to Washington during the World Bank Annual General Meeting in October 2002 to meet with the IFC project team, Executive Directors, and World Bank President Wolfensohn. Shortly after these meetings the IFC decided not to finance the project. The World Bank official statement said that they "recognized that there were many significant environmental and social issues associated with [the project]." However, the IFC refused to talk about the problems associated with the project, instead sending a letter to the sponsor stating that they withdrew because private financing was available for the project.

Gabriel Resources is still pursuing the development of the project, seeking private financing and support from Export Credit Agencies. Alburnus Maior continues to oppose the project.