https://www.miningweekly.com
Africa|Copper|Gold|Mining|OPENCAST|PROJECT|Resources|Underground|Environmental
Africa|Copper|Gold|Mining|OPENCAST|PROJECT|Resources|Underground|Environmental
africa|copper|gold|mining|opencast|project|resources|underground|environmental

South African leading critical mining project in Romania where red tape is being cut

Euro Sun's Grant Sboros interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

27th February 2024

By: Martin Creamer

Creamer Media Editor

     

Font size: - +

JOHANNESBURG (miningweekly.com) – Toronto-listed Euro Sun Mining, headed by South African CEO Grant Sboros, is advancing a development-stage gold and copper project in Romania, a country which is reportedly shedding its rigidly bureaucratic past with considerable aplomb.

Unlocking the full potential of the Rovina Valley project, located in west-central Romania, is what Euro Sun is setting out to do with vigour, Sboros made clear in a Zoom interview with Mining Weekly. (Also watch attached Creamer Media video.)

In agreement with government, mining production will be more copper-centred amid the Critical Raw Materials Act passed by the European Union in December last year.

“This is our ticket to ride,” was Sboros’ comment on the new critical minerals legal framework, which specifies that the European Union should have the capacity to extract 10%, process 40%, and recycle 25% of its annual consumption of strategic raw materials by 2030.

Meanwhile, Euro Sun is going all out to make its 100%-owned Rovina Valley project as green as can be.

The planned mining process excludes cyanide and wet tailings and the people of the region are reportedly very keen that Romania’s 2000-year-old mining legacy be amplified.

Cyanide-free processing reduces the need for chemicals within the process, mitigating impurity penalties and protecting the environment, Euro Sun stated in a recent presentation document, which also drew attention to the company producing a clean, high-grade copper concentrate with a strong gold credit.

With Euro Sun also pledging to contribute to the European Union’s control of its supply chain, there is reportedly observable local eagerness for the project to go ahead. “I was there last week, and every single person who you engage, from waiter to mayor, wants the project to happen as quickly as possible,” communications consultant Richard Dolamore stated in a preliminary note to Mining Weekly.

Notwithstanding this enthusiasm, Euro Sun has full compliance at the very top of its agenda and respects everything around what it describes as a beautiful, relatively uninhabited, lightly wooded area with steep hills.

The project will be the biggest in the last 35 years and government will earn 45% of the bottom line.

Since beginning his role as CEO in January last year, Sboros has been engaging intensively with the Romanian government on permitting.

The environmental impact assessment stage is now a hair’s breadth away and the mine will take two years to build, with first production expected to take place in mid-July 2026.

The plan is to exploit the porphyry-style asset as an opencast operation over a 30- to 35-year stretch before probably heading underground.

“We're moving into a place that was historically mined just 5 km away from our current position, in the mountains of Rovina, very steep mining and not the biggest grades on the planet, but overall enough to produce ten-million ounces, with a view of a greater resource that we'll prove up on the rest of our licences adjacent to our properties. We‘re probably looking to double up on that,” Sboros said.

Meanwhile, some 40 km away, Gabriel Resources, another Canada-listed company, is intent on getting the Roșia Montană gold and silver project up and running, following a court case that spanned a dozen years and which is poised to net Gabriel considerable compensation.

“We’ve definitely seen a change from what was a bad perception of Romania. I’ve spent a lot of time on the ground with all the stakeholders and we've seen a shift from the way the previous government was trying to manage things, compared with the new government now in place, which wants to exploit the resources of the country,” Sboros highlighted.

Europe consumed 16% of the global copper market in 2018, but only accounts for about 5% of global production. With copper demand expected to reach 3.5-million tonnes by 2030, Euro Sun undertook in its presentation document to provide a sustainable supply to support the growing decarbonisation need.

Edited by Creamer Media Reporter

Comments

Showroom

Aqs image
AQS Liquid Transfer

AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.228 0.266s - 150pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: