BUCHAREST, Romania, April 23, 2024 (GLOBE NEWSWIRE
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Posted On: 04/25/2024 12:42:20 PM
BUCHAREST, Romania, April 23, 2024 (GLOBE NEWSWIRE) -- Euro Sun Mining Inc., (TSX: ESM, OTC: CPNFF) ("Euro Sun" or the "Company"
through its wholly owned Romanian subsidiary, SAMAX Romania S.R.L., wishes to highlight the Romanian Government's strategic announcement on April 22, 2024 (announcement link), formally listing copper as a strategic and critical material, and their planned intention to adjust existing mining legislation to align to Europe's Critical Raw Materials Act (the "CRMA".
Announced by Romania's Ministry of Economy, the announcement details an overhaul of existing mining legislation and the reorganisation of regulatory bodies to simplify and streamline the inspection and permitting process to construct mines in Romania. Also included is a focus on opening new and previously sites to acquire critical minerals and the adoption of procedures to secure and access land for mining activities.
Commenting on this positive development, Mr. Grant Sboros, Chief Executive Officer of Euro Sun, said "This announcement clearly signifies Romania's intention to comply fully with the EU's CRMA and to formally list copper as a strategic and critical material. We are also greatly encouraged by the details contained in this announcement which include plans to provide the regulatory framework necessary to attract foreign investment to encourage public-private partnerships specific to mining. This provides investor predictivity and fiscal stability. Of significant value for Euro Sun is also the plan to create a single regulatory mining monitoring and control body to fast-track inspection and permitting processes and improve efficiencies."
As the second biggest copper resource measured and indicated in Europe, Euro Sun continues to work closely with the Romanian Government to understand and implement these changes made to the Romania's mining legislation.
About Euro Sun Mining Inc.
Euro Sun is a Toronto Stock Exchange listed mining company focused on the exploration and development of its 100%-owned Rovina Valley gold and copper project located in west-central Romania, which hosts the second largest gold deposit in Europe.
The Rovina Valley Project supports a circular economy by unlocking much needed investment and job creation in Hunedoara County and, delivers critical minerals necessary for Europe's green energy transition.
Further information:
For further information about Euro Sun Mining, or the contents of this press release, please contact Investor Relations at info@eurosunmining.com
through its wholly owned Romanian subsidiary, SAMAX Romania S.R.L., wishes to highlight the Romanian Government's strategic announcement on April 22, 2024 (announcement link), formally listing copper as a strategic and critical material, and their planned intention to adjust existing mining legislation to align to Europe's Critical Raw Materials Act (the "CRMA". Announced by Romania's Ministry of Economy, the announcement details an overhaul of existing mining legislation and the reorganisation of regulatory bodies to simplify and streamline the inspection and permitting process to construct mines in Romania. Also included is a focus on opening new and previously sites to acquire critical minerals and the adoption of procedures to secure and access land for mining activities.
Commenting on this positive development, Mr. Grant Sboros, Chief Executive Officer of Euro Sun, said "This announcement clearly signifies Romania's intention to comply fully with the EU's CRMA and to formally list copper as a strategic and critical material. We are also greatly encouraged by the details contained in this announcement which include plans to provide the regulatory framework necessary to attract foreign investment to encourage public-private partnerships specific to mining. This provides investor predictivity and fiscal stability. Of significant value for Euro Sun is also the plan to create a single regulatory mining monitoring and control body to fast-track inspection and permitting processes and improve efficiencies."
As the second biggest copper resource measured and indicated in Europe, Euro Sun continues to work closely with the Romanian Government to understand and implement these changes made to the Romania's mining legislation.
About Euro Sun Mining Inc.
Euro Sun is a Toronto Stock Exchange listed mining company focused on the exploration and development of its 100%-owned Rovina Valley gold and copper project located in west-central Romania, which hosts the second largest gold deposit in Europe.
The Rovina Valley Project supports a circular economy by unlocking much needed investment and job creation in Hunedoara County and, delivers critical minerals necessary for Europe's green energy transition.
Further information:
For further information about Euro Sun Mining, or the contents of this press release, please contact Investor Relations at info@eurosunmining.com
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