Rosia Montana Gold and Silver Mine


Gabriel Resources Ltd.

CPP: $8 million[1]

The proposed Rosia Montana mine has generated opposition across Europe. Over 1,000 scholars have voiced their objection to the mine, due to the area’s great archeological significance. The site includes historic Roman temples.[2] The Minister of the Environment in neighbouring Hungary has called the project a serious threat and advocates for it to be abandoned.[3] Mine development would require the relocation of 2,000 people, at least half of whom refuse to move.[4] Environmental concerns include the clear cutting of forests and the contamination of the water table.[5] 

[1] CPP Investment Board Canadian Equity Holdings as of March 31, 2006. 

[2] Patterson, Kelly. Canadian firm could face years of litigation over project. The Ottawa Citizen. April 14, 2006 (hereinafter Patterson).

[3] Reuters. Hungary says Romania should stop gold mine project. August 1, 2006.


[4] Patterson.

[5] NGO Working Group on the EDC. Seven Deadly Secrets: What the Export Development Canada does not want you to know. January 2003.