Romanian Economy minister: “We have got a lot of gold (…) we are making rings out of it”

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Economy minister Niculae Badalau has stated during a TVR show on Wednesday evening that Romania has got a lot of gold, but there has not been the will to exploit the gold deposits through public-private partnerships. Asked what gold resources Romania has and how they can be exploited, the minister replied: “We have got a lot of gold. We sell it, the National Bank takes it, we make rings out of it”.

In his view, Badalau said that the “association” on gold exploitation is a good idea. “We can bring foreign companies, they provide know how and we provide the resources”.

Economy minister also said that the first contracts will be available this summer to allow the re-opening of the mining industry in Romania, with the first projects targeting Remin Baia Mare, Cupru Min, Moldomin and Băița.

We can live from our copper and our resources just from Cupru Min and Moldomin over 80 years and we don’t want to exploit it. We take the resources and we exploit them as lumps abroad (…) We are trying now to draft a mining law. The European Union is giving us money to close the mines, for we must not be on the market. We should be Romanians and go on the market. This year, we have funds of EUR 220 million to close mines”, he said.

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