- Euro Sun Mining (TSX:ESM) has applied to the European Commission for the Rovina Valley Project under the Critical Raw Materials Act
- The Toronto-based miner operating in Europe wants to see its flagship project designated as a “strategic project” under the act
- This would accelerate the development of the project to be a critical supplier of materials, namely copper, within the European Union’s supply chain
- Euro Sun Mining opened trading at $0.04 per share
Euro Sun Mining (TSX:ESM) has applied to the European Commission for the Rovina Valley Project under the Critical Raw Materials Act.
In its submission, the Toronto-based miner operating in Europe wants to see its flagship project designated as a “strategic project” under the act. This would accelerate the development of the project to be a critical supplier of materials, namely copper, within the European Union’s supply chain.
“Since the adoption of the Critical Raw Materials Act in March 2024, the company has worked tirelessly on the application,” Grant Sboros, the company’s chief executive officer, said in a news release. “We are excited to have submitted it in record timing and with the support of the Romanian government. We look forward to moving forward the application within the Critical Raw Materials Act framework to have the Rovina Valley Project be deemed a ‘strategic project.’”
The initiative is supported by the Romanian Ministry of Economy.
The European Critical Raw Materials Act aims to secure a sustainable supply of critical raw materials (such as cobalt, magnesium and rare earth minerals) for Europe’s industries while lowering dependency on imports from single country (i.e.: China) suppliers.
Euro Sun Mining Inc. is focused on the exploration and development of its wholly owned Rovina Valley gold and copper project in west-central Romania, which is host to the second largest gold deposit in Europe.
Euro Sun Mining Inc. (TSX:ESM) opened trading at $0.04 per share and its stock has risen 14.29 per cent since the year began.
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(Top image: Euro Sun Mining Inc.)
