Friday, July 6 2018 13:43

Pashinyan: ``Lydian`` company has already made 80% of investments in  Amulsar deposit and we can not ignore this fact 

Pashinyan: ``Lydian`` company has already made 80% of investments in  Amulsar deposit and we can not ignore this fact 

ArmInfo. ""Initially, I would not want a mine like Amulsar to be developed near the resort town of Jermuk," Armenian Prime Minister Nikol Pashinyan stated in the city  of Jermuk at a meeting with representatives of the Lydian company and  environmentalists protesting the development of the Amulsar mine.

"However, during my visit to Jermuk, I saw that the Lydian company  has made huge investments in the country's economy, in fact, 80% of  the investments have already been made, and this is a fact that we  can not ignore," the Prime Minister said, stressing that there is  still no proven fact that the company had violated any environmental  standards in its activities.

At the same time, Pashinyan said that today there are two urgent  issues related to the activities of Lydian - whether the operation of  the mine will affect the quality of water in Jermuk and its image of  the resort city.  Against this background, the Prime Minister  stressed that in making decisions, everyone should base on concrete  facts, not emotions. "If we choose unlawfull solution, we will have  serious problems at the international level," Pashinyan said.

In addition, he did not rule out the fact that people who are  interested in involving Armenia in international legal scandals may  back the protests against development of the Amulsar deposit..  To  note protest actions of environmentalists against the development of  the Amulsar deposit have recently intensified. The organizers of the  actions believe that the deposit development will cause irreparable  damage to the environment of Vayots Dzor. Lydian company, on the  contrary, claims that the Amulsar deposit will be operated in  accordance with the strictest environmental standards.  To note,  Lydian Armenia is a subsidiary of the British Lydian International,  whose shareholders are also large international institutional   investors from the United States, Great Britain and a number of   European countries, including IFC and EBRD. The Amulsar project is   the largest industrial project in Armenia for the development of the   Amulsar gold deposit with a total cost of $ 370 million.  In August   2016, a project for the construction and development of the field was  launched. Preliminary work has been carried out since 2006. The life   of the Amulsar deposit will be 10 years and 4 months, an annual   average of 200,000 ounces of gold (about 10 million tons of ore) is   planned. The company's shares are quoted on the Toronto Stock   Exchange. Amulsar deposit is the second largest in Armenia.

POST A COMMENT
Input digits     


News
At request of Belarusian partners, Armenian inspectors to check  Ararat Brandy Factory products At request of Belarusian partners, Armenian inspectors to check  Ararat Brandy Factory products 
Syunik governor not familiar with details of residential house  construction project in ShurnukhSyunik governor not familiar with details of residential house  construction project in Shurnukh
Water tariff to not change in Armenia in 2024 at expense of subsidies  from state treasuryWater tariff to not change in Armenia in 2024 at expense of subsidies  from state treasury
Armenia`s gross international reserves even farther from historical  maximumArmenia`s gross international reserves even farther from historical  maximum
Armenia to take out EUR 92.3mln from WB to cover budget deficit  Armenia to take out EUR 92.3mln from WB to cover budget deficit  
Armenia, Kazakhstan to establish joint business club  Armenia, Kazakhstan to establish joint business club  
Bolat Imanbayev: Armenia-Kazakhstan trade and economic relations are  developing dynamically; nevertheless, they do not reflect  countries`  full economic potentialBolat Imanbayev: Armenia-Kazakhstan trade and economic relations are  developing dynamically; nevertheless, they do not reflect  countries`  full economic potential
Kazakhstan offers Armenia to consider new alternative logistics routeKazakhstan offers Armenia to consider new alternative logistics route
Dependence of Armenia`s economic activity on jewelry industry could  cause problems - Luys FoundationDependence of Armenia`s economic activity on jewelry industry could  cause problems - Luys Foundation
AraratBank places its 27th issue of dollar bondsAraratBank places its 27th issue of dollar bonds
Viva-MTS changes its company name to Viva ArmeniaViva-MTS changes its company name to Viva Armenia
Deputy Minister of Economy: Armenia-Russia cooperation potential may  be realized through cooperation projects in production sectorDeputy Minister of Economy: Armenia-Russia cooperation potential may  be realized through cooperation projects in production sector
Team Systems contributes to smart technology development Team Systems contributes to smart technology development 
Who will be beneficiaries of tax amnesty in ArmeniaWho will be beneficiaries of tax amnesty in Armenia
Belarus bans import of Ararat Brandy Company products Belarus bans import of Ararat Brandy Company products 
5 000 dram Bonus from IDBank for Pension Card Holders5 000 dram Bonus from IDBank for Pension Card Holders
Armenia`s public debt reaches $12 billionArmenia`s public debt reaches $12 billion
Price index of industrial products is decreasing in ArmeniaPrice index of industrial products is decreasing in Armenia
Industrial sector driver of economic activity in Armenia Industrial sector driver of economic activity in Armenia 
Armenian CB issue s new collector coins Armenian CB issue s new collector coins 
99.8% defense budget performance in 202399.8% defense budget performance in 2023
IDBank issues the 1st tranche of dollar bonds of 2024IDBank issues the 1st tranche of dollar bonds of 2024
AFD delegation presented with details of Vedi reservoir construction  and irrigation network modernization projectAFD delegation presented with details of Vedi reservoir construction  and irrigation network modernization project
Parliamentarian: Armenia attaches great importance to using  opportunities of digital transformationParliamentarian: Armenia attaches great importance to using  opportunities of digital transformation
DPM: we need not only quantitative increase, but also qualitative  changes in urban development field DPM: we need not only quantitative increase, but also qualitative  changes in urban development field 
​​​​​​​IDBank as a Participant in the Conference of My Forest Armenia NGO​​​​​​​IDBank as a Participant in the Conference of My Forest Armenia NGO
ENA bonds quotation in volume of AMD 32 billion to start on AMX from  March 27ENA bonds quotation in volume of AMD 32 billion to start on AMX from  March 27
Switzerland launches SIGMA program with total budget of CHF 12  million Switzerland launches SIGMA program with total budget of CHF 12  million 
Armenia`s State Revenue Committee launches e-system of income  statement presentation  Armenia`s State Revenue Committee launches e-system of income  statement presentation  
Armenia`s ranking in Index of Economic Freedom decreased by 0.2 pp  over yearArmenia`s ranking in Index of Economic Freedom decreased by 0.2 pp  over year
France to sponsor establishment of cheese-making school in Armenia`s  Tavush France to sponsor establishment of cheese-making school in Armenia`s  Tavush 
The South Caucasus Railway will suspend the sale of tickets using MIR cards The South Caucasus Railway will suspend the sale of tickets using MIR cards
Azerbaijan continues attempts to Azerbaijan continues attempts to "hit" Armenian nuclear power plant
Armswissbank participates in gcf regional dialogue in skopjeArmswissbank participates in gcf regional dialogue in skopje
IDBank issues the 1st tranche of dollar bonds of 2024IDBank issues the 1st tranche of dollar bonds of 2024
Extending ANPP`s lifetime until 2036 will lay solid foundation for  smooth transition to new power unit - Pashinyan at Nuclear Energy  SummitExtending ANPP`s lifetime until 2036 will lay solid foundation for  smooth transition to new power unit - Pashinyan at Nuclear Energy  Summit
Armenia`s government approves order of quality prize awards Armenia`s government approves order of quality prize awards 
International Client’s Day at IDBankInternational Client’s Day at IDBank
Germany to provide loan for Armenia`s renewable energy sector Germany to provide loan for Armenia`s renewable energy sector 
2023 lending growth insufficient to prevent decline in profits -  Financial Rating of Banks of Armenia2023 lending growth insufficient to prevent decline in profits -  Financial Rating of Banks of Armenia
Iran interested in cooperating with Armenia in mining industry Iran interested in cooperating with Armenia in mining industry 
Armenian government plans to introduce SAFE format Armenian government plans to introduce SAFE format 
Service of Armenian ArCa cards in Russia and of Russian MIR cards in  Armenia to be suspended Service of Armenian ArCa cards in Russia and of Russian MIR cards in  Armenia to be suspended 
Termination of service of MIR cards. IDBankTermination of service of MIR cards. IDBank
Economic modernization programme portfolio AMD 228bln as of March 1,  2024Economic modernization programme portfolio AMD 228bln as of March 1,  2024
Mobile trade regulations to be in effect throughout Armenia Mobile trade regulations to be in effect throughout Armenia 
Official cites financial reasons for suspension of Fly Arna airline  operation Official cites financial reasons for suspension of Fly Arna airline  operation 
Subsidiary of Public TV of Armenia to have right to nationwide  broadcasting  Subsidiary of Public TV of Armenia to have right to nationwide  broadcasting  
About 700 Armenian heavy cargo trucks waiting to pass through Upper  LarsAbout 700 Armenian heavy cargo trucks waiting to pass through Upper  Lars
Armenian Economy Ministry, several U.S. government departments form  specific action program Armenian Economy Ministry, several U.S. government departments form  specific action program 
Public TV`s First News Channel to be broadcasted not only in Yerevan,  but also throughout countryPublic TV`s First News Channel to be broadcasted not only in Yerevan,  but also throughout country
Ardshinbank cardholders can now enjoy a 10% cashback!Ardshinbank cardholders can now enjoy a 10% cashback!
“G20/OECD Principles of Corporate Governance” workshop“G20/OECD Principles of Corporate Governance” workshop
ECC, EDB to coordinate funding of joint projects ECC, EDB to coordinate funding of joint projects 
Broadcasting of Russian TV channels to be discussed in Moscow soon Broadcasting of Russian TV channels to be discussed in Moscow soon 
Armenia to host World Wine Tourism Conference,Armenia to host World Wine Tourism Conference,
CBA forecasts 5.5% or 6.4% GDP growth for 2024 depending on inflation  rate  CBA forecasts 5.5% or 6.4% GDP growth for 2024 depending on inflation  rate  
Three Sad Stories about FraudstersThree Sad Stories about Fraudsters
Rafayel Gevorgyan: Armenia`s economic growth potential is 6%Rafayel Gevorgyan: Armenia`s economic growth potential is 6%
TEAM already has over 1 million mobile subscribersTEAM already has over 1 million mobile subscribers
Read more


Exchange rates
28.03.2024
RUB4.270.00
USD394.46-0.25
EUR425.62-1.93
GBP497.65-0.91
CAD290.11-0.27
JPY26.06-0.05
CNY54.57-0.05
CHF435.72-0.13