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Benefits for the Romanian State
The project will bring $ 4 billion into the Romanian economy: 1.8 billion - the direct benefit of the Romanian state.
The Romanian State benefits from the Roşia Montană mining project from three sources:
- The 19.3% interest it holds in RMGC ensures a proportional share from the profit obtained as a result of the project.
- Mining royalties levied for the resulting gold and silver production, payable to ANRM (National Agency for Mineral Resources).
- Taxes and duties on profit, salaries, properties, excise duties, exploitation fees and others.
If the gold is sold for an average price of 900 dollars / ounce, the total volume of the State benefits from the three aforementioned sources is 1.8 billion dollars. If the gold price increases, for instance, to 1000 dollars / ounce, the State benefits also increase to more than 2.1 billion dollars.
In addition to these direct financial benefits, the Romanian State benefits from the project’s economic direct and indirect impact. Thus, the mining project will create over 2,300 direct jobs during the mine construction phase, 800 direct jobs during mining operations and 3,000 jobs in total during operation.
The logistic facilities necessary for the project, respectively roads, infrastructure, houses, schools, public utility services, are built by the investor and belong to the community.
Furthermore, RMGC will rehabilitate the environment in the area both during and at the end of the project. In addition, the company ensures environmental rehabilitation by depositing the necessary financial guarantee, especially for this purpose, from the very beginning of the project.
The closure and environmental rehabilitation costs of the Roşia Montană Project are currently estimated at 135 million USD, according to independent experts’ estimations.
Romania receives half the economic benefits.
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