ArmInfo. Within the program of Amulsar deposit development a system of environmental insurance will be introduced, Minister of Nature Protection Artsvik Minasyan told journalists on December 1 after the government meeting.
According to him developers Amulsar deposit guarantee insurance against any risks and consequences. Risks related to recovery of losses caused to third parties-population, legal entities, communities and state, will be guaranteed", the Minister stated.
Minasyan noted that the Ministry stands for introduction of insurance of environmental risks on legislative basis for the whole sector of mining industry of Armenia.
To note, as of today the program on Amulsar gold deposit development is the biggest foreign investment. The capital expenses on construction work in 2016-2017 will total $370 mln. In August this year official ceremony of the project launch was held. The preparation work has been held since 2006. The term of operation is 10 years and 4 months, it is planned to get 200 thousand ounces of gold annually (10 mln tons of ore). The Amulsar project envisages creation of 1,300 jobs in the course of construction and 650- 700 jobs throughout the entire operation of the mine. To note, Lydian Armenia is subsidiary of British Lydian International, the shareholders of which are institutional investors from the USA, Great Britain, a number of European countries, including IFC and EBRD. Amulsar is the second largest gold deposit in Armenia.