The main law and regulations regarding mining operations are:

(i)         Mining Law no.  85 of 2003 (“Mining Law”), as further amended;

(ii)        Decision no. 1208 of 2003 regarding the Approval of the Norms for the Application of the Mining Law;

(iii)       Order no. 197 of 2003 for the Approval of the Methodological Norms regarding the Performance of Specialized Survey Works in the Mining Extractive Sector;
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A Romanian subsidiary of Canadian construction company Canam has settled its long running dispute with two local businesses over the building of an office block in Bucharest.

Canam Steel Romania won two arbitral awards worth US$2.5 million after a local developer and contractor failed to pay for its role in the construction of Charles de Gaulle Plaza, Romania’s first steel-structured building, which is now home to Vodafone, Austrian bank Raiffeisen and UniCredit Bank. The developer and contractor paid the second award, totalling some US$250,000, in 2009. In January, Canam reached a settlement agreement with the contractor and developer worth US$2 million regarding the first award.

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Main Regulations

• Law no. 13 of 2007

• Law no. 50 of 1991 Regarding the Authorization of Execution of Construction Works

• Law no. 220 of 2008 Regarding the Establishing of the Promotion System of the Production of Energy from Renewable Energy Sources, as amended by Law no. 139 of 2010

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The prospects for power and gas exploration and production sectors in 2010 look good.

Several major power projects are underway, CEZ started works on windfarm projects with a final capacity of 600 MW. The esti­mated costs are about €1.1bn. The European Investment Bank recently approved credit fa­cilities of €200m to finance the first stage of the project. Iberdrola also plans to develop a windfarm project with a first stage capacity of 600 MW, and a final capacity of 900 MW.

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