Euro Sun Mining (TSX: ESM) has become the first non-state-owned entity to receive a ratified mining license for its Rovina Valley copper-gold project in Romania, signalling that the East European nation is open for business, the company says.
The mining company will now embark on an Environmental and Social Impact Assessment (ESIA), and continue its work on a feasibility study on the project, which Euro Sun describes as one of the largest mineral deposits in the European Union.
Rovina consists of three porphyry deposits, two at surface (Colnic and Rovina), and one underground (Ciresta).
Measured and indicated resources stand at 406 million tonnes grading 0.55 gram gold per tonne and 0.16% copper for 7.2 million ounces of contained gold and 1.4 billion pounds of copper. The resource estimate was completed in July 2012.
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