According to the date provided by the National Agency for Mineral Resources (NAMR) and the data communicated by the companies licensed to operate in Romania, the mining gold reserves exceeds 7 times the National Bank gold reserve, amounting to nearly 310 tons of gold and over 1,320 tons of silver.
Paradoxically, with all the riches underneath its soil, Romania faces abject poverty.
The aggregate value of the natural resources positions Romania on the 4th place in the world.
The gold deposits position Romania on the first place in Europe and on the 5th place in the world according to Prof. Gheorghe Popescu. The same goes for the industrial mineral deposits and the uranium reserves.
In conventional hydrocarbons and more, Romania ranks 2 after England and before Norway.
Although Romania has impressive gold deposits, it lost the right to make gold bullion back in 2002, when the authorities in our country had declared the gold mines as unprofitable, surprisingly suspending all their activity for the period 2004-2006.
According to the president of the Romanian Geological Institute, Ştefan Marincea, Romania should develop their own exploitation strategies for its mineral resources. "Although we are bound to comply with an EU directive on the actual development, a Romanian initiative in this respect has not been promoted so far," Marincea stated on Antenna 3.
Mihai Gâdea has put up for debate again the topic of how business is done in Romania with our underground deposits, which are extremely disadvantageous to the Romanian state, recalling the Ungureanu government's attempt to sell the largest copper deposit in Romania, Rosia Cupru Min Abrud of Poieni for the shocking price of 200 million euros, despite the fact that the deposit’s real value amounts to 20 billion euro.
Thus, the controversial privatization, disputed by the specialists in the field was a reason for praise for Romania's Prime Minister at the time, who stated that it represented a first economic success after an apparent state of "autism".
"My impression is that all it has been said about Cupru Min comes from people who do not know the history of this enterprise in detail nor do they know how Cupru Min ended up on the privatization items list. The initial price that Cupru Min was put on sale for was 18 million. This year it was auctioned with 57 million and sold for more than 200 million, along with its environmental obligations. It is the first economic success of these years of apparent autism of economic construction, " former Prime Minister Ungureanu stated for at a TV station, on April 3, 2012.
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