Kitco News - Garbriel Resources is weighing next steps after losing its arbitration case against the Romanian government, relating to the company's investments in the Roșia Montană gold and silver mining project.
Last week the World Bank’s International Centre for Settlement of Investment Disputes sided with the Romanian government and awarded it S$10m in legal fees and expenses incurred in connection with its defense of the arbitration.
The company said it strongly disagrees with the decision.
"The company is analyzing the Tribunal's decision with its legal advisers to evaluate its options, including to challenge the decision through the annulment process prescribed by the ICSID Convention," wrote Gabriel Resources in a news release.
In 2014 the Romanian government withdrew support from Gabriel Resources' projects after wide-spread protests.
