According to calculations by Hun-Mining Research, Development, and Innovation Ltd., the Börzsöny mountains in northern Hungary could hold approximately 1,000 tons of gold and silver at a depth of around 150 meters, Origo reports.
This figure dwarfs the Hungarian National Bank’s gold reserves, which stand at “only” 100 tons. With gold values potentially amounting to around EUR 59B, a concession mining right could yield a total of 9,000 tons of gold and an equal amount of silver over roughly 42 and a half years.
This investment has the potential to provide employment for 1,200 people and establish one of Hungary’s most lucrative gold and silver mines.
After five years of research in the region, technical documentation necessary for the new gold mine will be prepared for the mining authority. Based on deep drilling results, gold and silver extraction could be achieved using washing technology, eliminating the need for cyanide, which is prohibited by the EU (after the cyanide pollution of the Tisza river from Romanian gold mines in 2000).
Awarding the concession mining rights will be done through an international tender, with the mine expected to commence operations in five years.
Given the area’s valuable resources, the project could develop into one of the world’s largest gold deposits.
Research indicates substantial gold and silver reserves in the Nagyírtáspuszta-Rózsabánya region (also part of the Börzsöny mountains), suggesting significant social and economic benefits for the area through this proposed project.
