Monday, March 6 2017 17:50
Alexandr Avanesov

Armenian delegation will participate in largest meeting of production enterprises of mining industry

Armenian delegation will participate in largest meeting of production enterprises of mining industry

ArmInfo. The Armenian delegation headed by the deputy minister of energy infrastructures and Natural Resources of Armenia Vardan Gevorgyan, will participate in the annual meeting of the largest enterprises of the mining industry's production (PDAC), which will be held in the Canadian city of Toronto on March 5-8. It is reported by the press service of the department.

According to the source, on the Toronto Stock Exchange most of the largest companies in the world mining industry production are registered, and where gatherings are held annually with the participation of the supervisory bodies and the order of 25 thousand representatives of private companies from 125 countries around the world. As part of a meeting the representatives of the countries present the latest achievements in the field of mining industry production issues relating to natural resource management, control and legislative regulation. In addition, the meeting will discuss methods for more efficient and secure management of deposits and manage environmental risk. The Forum is the largest in the mining industry production, it discusses the problems of global significance, their current solutions and development priorities.

The forum will be attended by representatives of Armenia's mining industry production. Already for the 12th time Armenia will be represented by the program of "Lydian International", owning Amulsar mine.  The company is listed on the Toronto Stock Exchange as a company, applying innovative technologies, and is the author of the largest investment project in Armenia.

Earlier, the chairman and executive director of "Lydian International" Howard Stevenson during his meeting with Minister of Economic Development and Investments of Armenia Suren Karajan reported that the company will receive the first bar of gold from Amulsar mine in March 2018. According to Stevenson, the construction work in Jermuk is gaining new strength. The program will be implemented over 18 months. "We are ready to invest $ 370 million and create 700 permanent jobs for ten years and 1300 joint.  The program envisages to reach an annual volume of gold exports worth $ 259 million", said Stevenson. He also expressed hope that the program will contribute to the implementation of government programs and goals. Amulsar project is the largest to date in Armenia's industrial project. The second largest reserves of pure gold deposit in Armenia, contains about 31 million tons of ore and 40 tons of pure gold.. It is located in the south-east of the country, 13 km from the town of Jermuk, between the rivers Arpa and Vorotan.

In August 2016, the official ceremony of start of the project, which involves the start of construction and development of the field.  Preparations were made before 2006. Amulsar mine operation terms 10 years and 4 months, it is planned to produce annually an average of 200 thousand. ounces of gold (about10 mln. tons of ore). Amulsar program will create 1,300 jobs during construction (construction works will last about 2 years) and 650-700 jobs throughout the life of the program. Shareholders are also international IFC and EBRD institutional investors. The company's shares are listed on the Toronto Stock Exchange.

POST A COMMENT
Input digits     


News
Armenia`s insurance sector`s tax payments show 7% y/y fall in 1st  quarter of 2025 Armenia`s insurance sector`s tax payments show 7% y/y fall in 1st  quarter of 2025 
FlyOne Armenia and Shirak Avia airlines concerned over RA  government`s decision FlyOne Armenia and Shirak Avia airlines concerned over RA  government`s decision 
IMF`s Executive Board could approve access of about US$ 25.0mln  stand-by loan for Armenia this June IMF`s Executive Board could approve access of about US$ 25.0mln  stand-by loan for Armenia this June 
Ameriabank tops list of major tax payers among Armenia`s banks Ameriabank tops list of major tax payers among Armenia`s banks 
Only RUB transactions in Armenia`s interbank foreign exchange market  Apr 21 to 25Only RUB transactions in Armenia`s interbank foreign exchange market  Apr 21 to 25
Armenia`s seismic safety and disaster risk management priority for  ADBArmenia`s seismic safety and disaster risk management priority for  ADB
Armenia  among TOP-3 countries whose citizens prefer to vacation in  GeorgiaArmenia  among TOP-3 countries whose citizens prefer to vacation in  Georgia
New campaign in ECCO stores from IDBank and IdramNew campaign in ECCO stores from IDBank and Idram
Industrial price index  growing with industrial sector sagging Industrial price index  growing with industrial sector sagging 
Financial agreement  for construction of the Sisian-Kajaran road  debatedFinancial agreement  for construction of the Sisian-Kajaran road  debated
Armenia`s economic activity is losing momentum, with foreign trade  also saggingArmenia`s economic activity is losing momentum, with foreign trade  also sagging
Another early placement - Converse Bank dollar bonds sold in a matter  of daysAnother early placement - Converse Bank dollar bonds sold in a matter  of days
Armenia Minister of Finance held meetings in Washington as part of  the spring meetings of the IMF and the World Bank GroupArmenia Minister of Finance held meetings in Washington as part of  the spring meetings of the IMF and the World Bank Group
2024 another year of unkept promises - opposition MP2024 another year of unkept promises - opposition MP
Balchug Capital completes acquisition of Goldman Sachs` Russian unitBalchug Capital completes acquisition of Goldman Sachs` Russian unit
Tax policy much more complicated - businessman Tax policy much more complicated - businessman 
Fab Lab digital production laboratory opened in GyumriFab Lab digital production laboratory opened in Gyumri
What Types of Online Fraud Exist Today?What Types of Online Fraud Exist Today?
Armenia`s Cabinet of Ministers approves program to support  development of air transportationArmenia`s Cabinet of Ministers approves program to support  development of air transportation
What strategy will be used to implement a gender policy in Armenia, a  country with a predominantly female population and a notable gender disparity in employment?What strategy will be used to implement a gender policy in Armenia, a  country with a predominantly female population and a notable gender disparity in employment?
KfW allocates EUR 5.3mln for agricultural insurance in Armenia; EUR  500,000 to be directed to consultationsKfW allocates EUR 5.3mln for agricultural insurance in Armenia; EUR  500,000 to be directed to consultations
AMD 209mln allocated from Armenia`s state budget for repayment of bad  loans AMD 209mln allocated from Armenia`s state budget for repayment of bad  loans 
Armenia`s Cabinet approves procedure for affixing CIS customs seals  and stamps on transport documents Armenia`s Cabinet approves procedure for affixing CIS customs seals  and stamps on transport documents 
China preparing to open new chapter of  One Belt, One Road initiative  with involvement of Armenia - diplomat China preparing to open new chapter of  One Belt, One Road initiative  with involvement of Armenia - diplomat 
Armenia remains among EAEU leaders - Eldar Alisherov Armenia remains among EAEU leaders - Eldar Alisherov 
Construction of landfill in Hrazdan completedConstruction of landfill in Hrazdan completed
US Ambassador to Armenia meets with Westinghouse representativesUS Ambassador to Armenia meets with Westinghouse representatives
As a landlocked developing country, Armenia reiterates importance of  inclusive connectivity and open borders - Deputy FMAs a landlocked developing country, Armenia reiterates importance of  inclusive connectivity and open borders - Deputy FM
Armenia risks losing EAEU benefits if the West drags it into its  geopolitical games - Russian Deputy FMArmenia risks losing EAEU benefits if the West drags it into its  geopolitical games - Russian Deputy FM
Team establishing a 1-hectare forest in LoriTeam establishing a 1-hectare forest in Lori
Armenian NA approves amendments   to Tax Code postponing submission of  individual income statements Armenian NA approves amendments to Tax Code postponing submission of  individual income statements 
Counterfeit alcoholic beverage production exposed in Armenia Counterfeit alcoholic beverage production exposed in Armenia 
Armenian NA committee approves postponement of deadlines for   individual income statements  Armenian NA committee approves postponement of deadlines for   individual income statements  
AraratBank: Main Sponsoring Partner of STEM Expo 2025AraratBank: Main Sponsoring Partner of STEM Expo 2025
Armenia  establishing tourism cooperation with  Alsace, FranceArmenia  establishing tourism cooperation with  Alsace, France
Only 35,000 of 900,000 indviduals submitted income statements in 2024  - MPOnly 35,000 of 900,000 indviduals submitted income statements in 2024  - MP
Continued lending activity allows Armenian banks to increase profits  at double-digit ratesContinued lending activity allows Armenian banks to increase profits  at double-digit rates
Dominant faction of RA NA proposes postponing submission of  individual income returns Dominant faction of RA NA proposes postponing submission of  individual income returns 
The Merger between The Merger between "Ardshinbank" CJSC and "Ardshininvestbank" CJSC Has Been Completed
Pashinyan emphasizes the importance of developing a common economic  roadmap aimed at serving Armenia`s interestsPashinyan emphasizes the importance of developing a common economic  roadmap aimed at serving Armenia`s interests
Dollar transactions decreased and  ruble transactions increased in  Armenia`s interbank foreign exchange market, April 14-18, 2025Dollar transactions decreased and  ruble transactions increased in  Armenia`s interbank foreign exchange market, April 14-18, 2025
20% idcoin at Carpisa: IDBank and Idram’s new campaign20% idcoin at Carpisa: IDBank and Idram’s new campaign
In Q1 2025, Armenia`s public debt increased by approximately $740  million, reaching $13.6 billionIn Q1 2025, Armenia`s public debt increased by approximately $740  million, reaching $13.6 billion
Armenia`s opposition forces propose suspending property tax increase Armenia`s opposition forces propose suspending property tax increase 
ANIF embezzled budgetary funds - Transparency International ANIF embezzled budgetary funds - Transparency International 
WB launches $100 million project in Armenia to enhance local tourism   infrastructureWB launches $100 million project in Armenia to enhance local tourism   infrastructure
South Caucasus Railway improving platforms for passengers` comfortSouth Caucasus Railway improving platforms for passengers` comfort
IBRD to issue EUR 102mln to Armenia for improving medical services  quality IBRD to issue EUR 102mln to Armenia for improving medical services  quality 
State Control Service to supervise state budget execution State Control Service to supervise state budget execution 
Founder of Mantashyants business unioin critical of Armenia`s State  Revenue Committee Founder of Mantashyants business unioin critical of Armenia`s State  Revenue Committee 
Armenia to support IT companies in hiring foreign specialists, new  employees and  retraining personnelArmenia to support IT companies in hiring foreign specialists, new  employees and  retraining personnel
EAEU companies  given green light for cabotage transportation in  ArmeniaEAEU companies  given green light for cabotage transportation in  Armenia
Armenia`s Cabinet of Ministers gives go-ahead for extending deadline  for individuals to file declarationsArmenia`s Cabinet of Ministers gives go-ahead for extending deadline  for individuals to file declarations
5,237,825 AMD for the “City of Heroes Rehabilitation Center”: April’s beneficiary is the “4090” Foundation5,237,825 AMD for the “City of Heroes Rehabilitation Center”: April’s beneficiary is the “4090” Foundation
AraratBank to introduce a leasing solution with up to 35% cashback opportunity at Leasing EXPO 2025AraratBank to introduce a leasing solution with up to 35% cashback opportunity at Leasing EXPO 2025
Digital identity, digital authentication, and secure transactions: the imID office is officially openedDigital identity, digital authentication, and secure transactions: the imID office is officially opened
RA Tourism Committee: Tourist flow to Armenia continues to declineRA Tourism Committee: Tourist flow to Armenia continues to decline
AraratBank and FMO Expand Cooperation with a $25 Million Loan AgreementAraratBank and FMO Expand Cooperation with a $25 Million Loan Agreement
Ardshinbank Named Best Bank in Armenia in Four Categories by Global Banking & Finance ReviewArdshinbank Named Best Bank in Armenia in Four Categories by Global Banking & Finance Review
EDB provides of $78,000 grant for System of Electronic Vehicle  Passports in ArmeniaEDB provides of $78,000 grant for System of Electronic Vehicle  Passports in Armenia
Read more
Exchange rates
25.04.2025
RUB4.730.02
USD390.330.77
EUR443.14-1.00
GBP519.571.42
CAD281.08-0.84
JPY27.23-0.20
CNY53.560.12
CHF470.73-2.09