VarDev S.A. is a Romanian company, headquartered in Certej de Sus, Hunedoara county. The Company maintains an administrative office in Deva. Our aim is to develop local communities by mining mineral resources.
VarDev S. A. is the new name for Deva Gold S.A. – and the company has retained the same passionate employees and partners dedicated to building opportunities in Hunedoara County.
VarDev S. A. is committed to hiring qualified local people wherever possible and providing necessary long-term skills training to support local employment. VarDev investments can support companies in the mining supply chain in Hunedoara.
While Varvara Development Group Ltd is a Canadian headquartered company, the majority of employees of the group are Romanian and all its mining operations are in Romania. Senior management are a mix of Romanian, other European and international leaders, with experience developing safe and sustainable operations across the globe.
Varvara Development Group Ltd. was founded for the purposes of developing and partnering with the Romanian minerals sector. This arrangement allows for the investment of funds by North American and other European investors into Romania, whilst the company maintains a Romanian identity. It allows the Romanian state to maintain its 19.25% share of Certej and its economic benefits without having to invest taxpayer funds.
Varvara Development Group is named for the patron saint of miners, St Barbara. Varvara Development Group Ltd purchased its 80.5% stake in Deva Gold S.A. in 2025, for an amount up to US$30M. This reflects the current valuation of the undeveloped assets that require significant investment over a small number of years in design, permitting, consultation and construction to achieve their full value. Through over €500M of planned investment we are supporting Romania in realizing the social and economic potential of mineral development.
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