Gabriel Resources

Gabriel Resources is a Canadian based mining company which is solely focused on attempting to develop a gold mine in Rosia Montana in Romania. The project, the largest undeveloped gold deposit in Europe, is owned through Rosia Montana Gold Corporation S.A. (RMGC), a Romanian Company in which Gabriel holds an 80.69 per cent stake with the balance held by CNCAF Minvest S.A., a Romanian state-owned mining enterprise.

The company has met stiff opposition from some locals and from international environmental groups including Greenpeace and the Open Society Foundation. In response the company has engaged in a variety of advertising, public relations, lobbying and corporate social responsibility activities.

History

According to the New York Times:

Gabriel Resources was born in the breakup of the state-owned economy after Communism’s collapse when Romanian businessmen with little mining experience and suspected ties to the former secret police won a vast concession to exploit mineral deposits. In 2005 it was reported that Frank Timis boss of Gabriel Resources and [Regal]] an oil company that:

Timis had also managed to attract a team of top City advisers: Evolution is one of a new breed of advisory firms and one of London's most active outfits. He was also advised by one of the City's largest law firms, Weil Gotshal & Manges, and by Buchanan, a financial public- relations company.

Contact

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Resources

• [Gabriel Resources wants Romania to move quickly on new generic mining law