Gabriel counts 429 left to go in Romanian relocation
Gabriel Resources Ltd (2) GBU
Shares issued 95,644,954 Oct 2 close $4.66
Thu 3 Oct 2002 News Release
Ms. Robin Hickson reports
ROSIA MONTANA PROJECT - UPDATE ON RESETTLEMENT PROGRAM
Gabriel Resources has provided the following update on the resettlement
program associated with the development of Gabriel's 80-per-cent-owned
Rosia Montana gold project in Romania.
Highlights:
resettlement program successfully under way with strong local response and
support;
more than 600 property owners are currently engaged in negotiations with
Gabriel;
a total of 71 properties have now been acquired by Gabriel and a total of
$1.87-million (U.S.) has been paid to date in the form of relocation
compensation payments;
three resettlement sites have been selected and approved by the local
community; and
resettlement action plan being updated and upgraded.
Resettlement and relocation program
The resettlement and relocation program associated with the development of
the Rosia Montana project in Romania is well under way. To date, Gabriel
has held meetings with over 600 property owners affected by the mine
development to discuss details of their resettlement and relocation
packages. The owners of 71 properties have concluded their negotiations and
66 owners have already received their relocation packages and completed
their moves away from Rosia Montana.
All relocation and resettlement packages have been developed by Gabriel
after extensive consultation with Romanian specialists in valuing buildings
and structures as well as residential, farm and forest lands. In addition,
all packages comply with relevant World Bank group/International Finance
Corp. (IFC) guidelines, which require compensation be provided on a
full-replacement-cost basis. Any owners of properties which currently fall
below minimum Romanian standards will receive compensation to at least such
minimum standards. To date, the overwhelming majority of residents in Rosia
Montana have been pleased with the compensation packages proposed by
Gabriel.
In order to maintain its current development schedule of obtaining all
approvals necessary to commence construction of the new mine during 2003,
Gabriel must successfully complete negotiations on resettlement and
relocation packages for approximately 500 properties, including 150 houses.
An additional estimated 1,500 properties, including 770 houses, will need
to be acquired over the approximate 17-year life of the mine. The only
significant delays experienced by Gabriel to date have been associated with
the surveying of individual properties and the updating of land cards to
accurately document legal titles. To date, titles for 583 of the 2,000
affected properties have been updated, with over 350 titles presently in
the process of being updated. Gabriel is currently well financed and has
the necessary cash resources to advance the resettlement program through to
commencement of construction of the new mine.
Resettlement sites
Three resettlement sites, two of which are in the immediate vicinity of
Rosia Montana, have been identified and selected by Gabriel based upon a
range of detailed evaluation criteria and discussions with local residents
and county councils. Gabriel is currently in the process of acquiring these
sites and submitting application for the permits necessary to allow the
commencement of construction of new residences for those individuals
wishing to resettle.
Community information program
Gabriel has instituted a comprehensive local community information program
and has distributed a series of gazettes to local residents to provide
information and to address relevant issues concerning the resettlement and
relocation process. These gazettes address the overall consultation
process, including individual, group and public meetings, the determination
of resettlement, and relocation packages and the specific steps, documents
and legal agreements needed to conclude the process. Copies of these
gazettes can be found on Gabriel's Web site at www.gabrielresources.com.
As part of this community program, Gabriel has established a public
information centre in Rosia Montana to provide up-to-date information on
the status of the development of the Rosia Montana project as well as the
resettlement program.
Upgraded resettlement action plan (RAP)
Gabriel is currently upgrading and improving its resettlement action plan
(the RAP) to bring it into more detailed compliance with all relevant World
Bank Group/IFC policies and guidelines. Once the upgraded RAP is completed,
which is currently expected to be in January, 2003, Gabriel will make the
revised RAP available on its Web site and in the community information
centre in Rosia Montana. Until the upgraded RAP is completed, Gabriel will
continue to negotiate resettlement and relocation packages and enter into
legal purchase agreements with local property owners; however, it will
delay making any final payments until the upgraded RAP is completed and
published. As compensation to the property owners affected by the delay in
making final payments, Gabriel has agreed to pay each property owner a
one-time delay payment in an amount equal to 3 per cent of the value of
their property. |
