- Euro Sun Mining (TSX:ESM) announced that its Rovina Valley Project has been included on the European Union’s first list of strategic assets
- The Rovina Valley Project, located in west-central Romania, is one of the largest undeveloped gold-copper projects in Europe
- The E.U.’s decision to designate it as a strategic asset allows Euro Sun to fast-track the permitting process under new European legislative guidelines
- Euro Sun Mining stock (TSX:ESM) opened trading at $0.09
Euro Sun Mining (TSX:ESM) announced that its Rovina Valley Project has been included on the European Union’s first list of strategic assets.
The Rovina Valley Project, located in west-central Romania, is one of the largest undeveloped gold-copper projects in Europe. The E.U.’s decision to designate it as a strategic asset allows Euro Sun to fast-track the permitting process under new European legislative guidelines. This move is expected to significantly expedite the development of the project, which is crucial for supplying critical raw materials necessary for Europe’s green energy transition
“Euro Sun Mining now has European Union support to help secure permits for a project that can deliver critical raw materials quickly in support of European strategic interests,” the company’s CEO, Grant Sboros said in a media release. “This news also propels Romania to the forefront of critical raw material supply. On a personal level, I am also so happy that the European Union has recognized the importance of the Rovina Valley Project for Romania and Europe. There is now much work to done, but I would like to take this opportunity to thank our incredible shareholders and organisations like the International Copper Association for their unwavering support.”
This inclusion follows the E.U.’s May 27, 2024 call for applications under the Critical Raw Materials Act.
The Critical Raw Materials Act aims to ensure a secure and sustainable supply of critical raw materials for Europe’s industry, significantly lowering the E.U.’s dependency on imports from single-country suppliers.
The Act includes measures to strengthen domestic supply chains, reinforce international engagement, improve resilience, and invest in research, innovation, and skills.
The Rovina Valley Project’s inclusion on the strategic assets list is a testament to its importance in the European context. It unlocks much-needed investment and job creation in Hunedoara County and delivers critical minerals necessary for Europe’s green energy transition.
About Euro Sun Mining
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 stock (TSX:ESM) opened trading 5.88 per cent higher at $0.09 and its stock has risen 112.50 per cent since this time last year.
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(Top image: Euro Sun Mining Inc.)
