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-------Original Message-------
Date: 05/03/05 15:56:31
Subject: Fwd: Court Orders Gold Mine to Cut Production
Associated Press
Court Orders Gold Mine to Cut Production
05.02.2005, 09:19 AM
A Hungarian court on Monday ordered a Romanian gold mine to cut its
production by 85 percent citing the company's role in a 2000
environmental
disaster and the possibility of further accidents.
The Budapest City Court said Transgold SA must reduce its output
starting
Tuesday, according to Andras Szecskay, the attorney representing
Hungary in
the lawsuit.
"I hope the company will respect the ruling, especially given the
international attention this case has received," Szecskay said.
The ruling was part of Hungary's efforts to claim damages of 28.6
billion
forints (US$146 million, euro113.5 million) from Transgold SA, an
Australian-owned gold mine in neighboring Romania after a cyanide
leak from
the company's reservoir killed much of the aquatic life in the Tisza
River
five years ago.
The incident was called at the time the most serious environmental
disaster
since Chernobyl.
The Tisza is a tributary of the Danube River, which flows to the
Black Sea.
Monday's ruling will stand until the court announces its final
verdict,
which is not expected sooner than 2006, according to Szecskay.
"We also expect the European Union to pay close attention to see
whether a
ruling issued in a member country is being respected in an applicant
country," Szecskay added.
Hungary joined the EU in May along with nine other countries, and
Romania is
expected to become an EU member together with Bulgaria in 2007.
Hungary also raised concerns about the opening of a gold mine in
Rosia
Montana, Romania, some 190 kilometers (120 miles) east of the border
with
Hungary.
Officials fear the project - which would rely on cyanide to extract
gold
from ore - could lead to a repeat of the 2000 environmental disaster.
(C) Forbes.com
Vali
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