August 31 (SeeNews) - Canadian exploration and development company Euro Sun said it plans to open an office in Romania's capital Bucharest.
The new Euro Sun Mining office is an A-class office project, centrally located in the downtown area of Bucharest, the company said in a press release on Wednesday.
The office is within walking distance to all relevant government offices including the National Agency of Mineral Resources, ANRM, it added.
Completed in 2016, the nine-story office building is already home to the Embassy of Norway, Oriflame Sweden and Air France/KLM.
"The importance of a permanent presence in Bucharest cannot be understated as we progress the permitting of the Rovina Valley Project, beginning with the ratification of our mining license. Unlike previous projects in Romania, all significant permitting approvals will be issued by the Central Government in Bucharest," president and CEO of Euro Sun Mining Scott Moore said.
The offices are expected to be completed during the fourth quarter of 2017.
At the beginning of August, ANRM has issued an official notice to Euro Sun Mining announcing that the ratification process of the mining license for the company's core-project in Rovina Valley was initiated.
In May 2015, Euro Sun received a mining licence from the ANRM for the Rovina Valley project, in west-central Romania, but the licence needs to be ratified by the ministries of environment, economy, justice and finance, and then published in the government gazette.
The Rovina Valley project spreads on an area of 27.68 sq km approximately 300 km northwest of Bucharest. It hosts the second largest gold deposit in Europe, with measured and indicated mineral resources of 10.84 million ounces of gold equivalent, according to the company's own data.
Euro Sun said it plans to use the highest environmental standards and without the use of cyanide to extract copper and gold from Rovina Valley and pointed out that the project will provide stable, high-paying employment and substantial economic benefits to the Romanian state.
In October last year, the Toronto-listed mining company obtained a prospecting permit from ANRM for the Stanija area, located around 3 km east of Rovina Valley.
Formerly known as Carpathian Gold, Euro Sun changed its brand identity in September 2016.