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Allianz refuses alliance with Gabriel Resources
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08/05/2013

Allianz refuses alliance with Gabriel Resources  

Munich/Germany, 8th May 2013 – Several activists of the Save Rosia Montana campaign participated in the Annual General Meeting of Allianz, the world’s leading accident insurer. Their scope was to inform the company about the risks and illegalities associated to the Rosia Montana mining project. Gabriel Resources had approached Allianz for insurance of its mining proposal, an essential condition for obtaining outstanding permits. After listening to the activists testimonial, Michael Diekmann, CEO of Allianz, declared: „After what I learned today, Allianz will do no bussines with Gabriel Resources and will not insure the proposed project.”


Gabriel Resources (TSX:GBU), the Canadian mining junior that owns the Rosia Montana mine proposal has been desperately trying to obtain insurance against liabilities since 2004. In March 2013 Allianz initiated a risk assessment procedure in order to assess a potential insurance for the Rosia Montana project.

At the Annual General Meeting (AGM) held in Munich, Allianz’s 2000-strong shareholders were greeted by several members of the Save Rosia Montana campaign. They held-up banners and distributed information material about the substantial environmental risks and legislative challenges involved. 

Raluca Dan, Ramona Duminicioiu and Stephanie Roth all of whom are Save Rosia Montana activists, intervened during the plenary of the Allianz Annual General Meeting. Together they highlighted some of the most destructive environmental, cultural and social impacts of the mine proposal and adressed the Allianz’ board and shareholders with a set of questions1 to consider when assessing a potential alliance with Gabriel Resources.

“The proposed mining project in Rosia Montana will require more than fire insurance. Will Allianz make public today the details of the risk assessment, its parameters and type of insurance, including details of re-insurance? In 2010, the European Parliament voted by an overwhelming majority against the use of cyanide in mining and demanded a complete ban on it, to protect people and nature. What information does Allianz hold to consider cyanide risk free and that the European Parliament did not have? What right does Allianz have to insure companies that destroy listed monuments and sites? In 2002 the World Bank Group refused to finance the mine because of blatant social, cultural and environmental concerns. What information does Allianz hold to consider the mine risk free and that the World Bank did not have? Does the Allianz have standards that do not allow insurance for projects where corruption, conflict of interest and the illegal displacement of the living and the dead have been confirmed by the courts?,” were some of the questions addressed by the activists to the audience. 

“The Romanian Government wants to issue the environmental permit as much as Gabriel Resources wants to find insurance for their mine. I hope that Allianz decision will show them both that the financial world doesn’t take this mining project serious”, declared Eugen David, president of Alburnus Maior.

Photos from today’s action can be accessed here.
Full video presentation can be accessed here.
For further information please contact us on email alburnusmaior@ngo.ro, www.rosiamontana.org
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