Canada’s Gabriel Resources files international arbitration suit against Romania

Canadian gold project developer Gabriel Resources has filed a request for arbitration before the World Bank's International Centre for Settlement of Investment Disputes (ICSID) against Romania. The TSX-listed company had been embroiled in a longstanding dispute with Romania over the development of its flagship Roşia Montană gold/silver project, of which Gabriel held an indirect 80.69% interest, and alleged violations by the Romanian government of the protections afforded by bilateral investment treaty obligations, causing significant losses to Gabriel.