Canadian project developer Gabriel Resources is suing Romania for a record C$5.7-billion before the World Bank’s International Centre for Settlement of Investment Disputes (ICSID), the TSX-listed company revealed on Thursday. The company hopes to tie up a drawn out dispute with the country’s fluid government, based on what it argues boils down to the effective expropriation, without compensation, of its flagship Roşia Montană gold/silver project – the largest undeveloped gold deposit in Europe and among the top 20 undeveloped gold projects globally.
