Moldova's mineral resources are limited, the government is actively promoting the development of the extractive industry. The country's largest mining company, Eurocement Group, is investing in new projects, while the state-owned Moldovagaz is working to ensure fair pricing for gas imports. With the implementation of new policies and the support of foreign investors, Moldova's extractive industry could become an important contributor to the country's economy in the future.
Government Policy
Moldova's government has implemented policies to promote the exploration and development of its mineral resources. In 2013, the government created a national strategy for the development of the extractive industry, which aims to attract foreign investment and improve the competitiveness of the sector. The strategy focuses on increasing transparency and accountability in the sector and promoting sustainable development.
In 2014, Moldova also adopted a new mining law that aims to streamline the licensing process and provide more incentives for foreign investors. The law also requires mining companies to have an environmental impact assessment before starting operations.
Largest Companies in the Sector
- The largest mining company in Moldova is Eurocement Group, a Russian-owned company that operates the country's only cement plant. The plant produces about 2 million tons of cement per year and employs over 1,000 people.
- Another significant player in Moldova's extractive industry is the state-owned company Moldovagaz, which extracts natural gas from the country's underground reserves. The company also imports gas from Russia and supplies it to households and businesses in Moldova.
Recent News Articles
- Eurocement Group has been in the news recently for its plans to expand its operations in Moldova. In 2020, the company announced that it would invest $45 million in the construction of a new cement plant in the country's north. The new plant is expected to have a capacity of 1.2 million tons per year and will create over 400 new jobs.
- Moldovagaz has also been in the news recently for its ongoing dispute with Gazprom, the Russian gas giant. In 2020, Moldovagaz filed a lawsuit against Gazprom, claiming that the company had overcharged Moldova for gas imports. The case is still ongoing, but if Moldova wins, it could receive a refund of up to $5 billion.
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