13/3/202414 Mar 2024 07:32
Today, early on, the President of the CUB, Igor Munteanu, sent the Government of the Republic of Moldova a request regarding the verification of the fulfillment of concession obligations by the company Frontera Resources, which received in 2017 a Concession Agreement for approximately 36% of the state's territory.
"In the last 8 years, the company that holds exclusive rights according to this contract, has not been properly monitored, and the company has not fulfilled its concessionary obligations. The contract required the concessionaire to carry out exploration works in the first 5 years (2017-2022), and subsequently recognized the rights to exploit the discovered deposits for a period of 45 years. The perimeter agreed by the government and the company covered an area of 12,125 km2, conventionally included between Ungheni - Basarabeasca, in the northern direction, outlined by angular points to the south of the country, within the state borders.
It is with great regret that Frontera Resources has not complied with its concession obligations, and the recently collected facts cast serious doubt on the feasibility of the concession project for the next 45 years.
Apparently, none of Frontera Resources' basic contractual obligations have been honored. Nor the obligation to submit to the State Commission for Natural Reserves the entire project documentation for geological research and geological data expertise for approval; nor the presentation to the Geology and Mineral Resources Agency, by April 30 of each year, of truthful geological information; presentation of annual reports on the exploration works carried out; the presentation of the data of a comprehensive audit on the financial statements of the concessionaires and the investments made during the year, contracted by the government, from the resources of the concessionaire. In the same way, the Concessionaire was supposed to establish the royalty that the state collects from the concessioned activities based on the geological data presented, but until today, the Company has not fulfilled this clause either
https://telegraph.md/guvernul-a-concesionat-36-din-rezervele-sale-subterane-unei-companii-din-offshore/
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