Wednesday, May 15 2019 17:26
Marianna Mkrtchyan

US ambassador on situation around Amulsar: In such disputes, it is  important to quickly and effectively find a solution

US ambassador on situation around Amulsar: In such disputes, it is  important to quickly and effectively find a solution

ArmInfo.It is very important to work with the Government of Armenia to create a favorable, predictable and transparent environment for business and investment  in the country. On May 15 in Yerevan in a conversation with  journalists the US Ambassador to the RA Lynne Tracy stated about the  situation around the Amulsar gold mine.

"And this is necessary not only for American business, but also for  investors in general. And Lydian is one of these international  investors. It is also important that international investors act in  accordance with local law," she said, stating that research is now  being conducted and you need to wait for their results.

However, according to the American diplomat, in such disputes, it is  important to quickly and effectively find a solution to the issue.

Earlier, the company, Lydian International Limited, which operates  Amulsar gold mine in the close to the area of the famous Jermuk  balneological resort, has sought to prosecute the international  arbitration process with the construction of a blockbuster block, the  top of the coal mine and the offshore company activists.  Lydian has  the right to file an official declaration after the expiration of 3  months in international arbitration.

At the same time, the message says that the company is open for  discussion and the search for urgent solutions with the state.

"I hope that we will be able to resolve issues with this company  without arbitration," Armenian Deputy Prime Minister Tigran Avinyan  told reporters. "If the results of the environmental assessment at  the mine site correspond to Lydian data regarding the controllability  of environmental risks, there will be no need for legal proceedings  and the company will continue construction work. If the answer  indicates the presence of risks that the company has not previously  reported, then Lydian then it would not make sense to go to court, "-  said Deputy Prime Minister.

The Amulsar project is the largest industrial project in Armenia  today for the development of the Amulsar gold mine with a total value  of $ 370 million. The Amulsar deposit is the second largest reserves  in Armenia.

In August 2016, started the mineral assets construction and  development project.  Preparatory work has been going on since 2006.   The terms of the Amulsar gold mine project will be 10 years and 4  months, with an average of 200 thousand ounces of gold (about 10  million tons of ore) planned annually.  The company is listed on the  Toronto Stock Exchange.

To note, since June 2018 the roads leading to the Amulsar mine are  blocked by a group of people opposing the mine. The government of  Armenia believes that the field operation project requires additional  independent environmental impact assessment, which is now being  conducted by one of the most reputable global companies. However,  Lydian Armenia, due to the actual inaction of law enforcement  agencies, continues to incur losses, construction of the mine is  suspended.

POST A COMMENT
Input digits     


News
WB approved new $50 mln loan on DPO program for Armenia WB approved new $50 mln loan on DPO program for Armenia 
EDB proposes to use national currency in mutual settlements within  EAEUEDB proposes to use national currency in mutual settlements within  EAEU
Tax information is now available on RA SRC e-platform Tax information is now available on RA SRC e-platform 
ACBA-Credit Agricole Bank, within framework of ACBA-Credit Agricole Bank, within framework of "My Business, My Bank"  campaign will present its partners` products in branches of Bank
It is planned to develop a roadmap for improving investment policy in  ArmeniaIt is planned to develop a roadmap for improving investment policy in  Armenia
RA Prime Minister presented Italian business community with business  opportunities in ArmeniaRA Prime Minister presented Italian business community with business  opportunities in Armenia
Armbusinessbank became an agent of the primary market of government  bonds of ArmeniaArmbusinessbank became an agent of the primary market of government  bonds of Armenia
Corporate bonds of the largest mining company in Armenia have been  listed on the Armenian Stock ExchangeCorporate bonds of the largest mining company in Armenia have been  listed on the Armenian Stock Exchange
Artur Javadyan presented specifics of Armenia`s monetary policy at a  meeting of the Club of Central Bank HeadsArtur Javadyan presented specifics of Armenia`s monetary policy at a  meeting of the Club of Central Bank Heads
Ameriabank fully transfers business financing to digital channelsAmeriabank fully transfers business financing to digital channels
Online loans dominate in Ameriabank`s consumer loan portfolio Online loans dominate in Ameriabank`s consumer loan portfolio 
Armen Sarkissian summed up results of official visit to Qatar:  Armenia can attract investmentsArmen Sarkissian summed up results of official visit to Qatar:  Armenia can attract investments
Armenian government granted privileges to companies with Armenian government granted privileges to companies with "actual"  production
Tigran Avinyan and Sylvie Bossoutrot discussed the implementation of  the program Tigran Avinyan and Sylvie Bossoutrot discussed the implementation of  the program "Local Economy and Infrastructures Development"
Japanese scientist Takeo Kanade awarded Japanese scientist Takeo Kanade awarded "Global IT Award- 2019``  State Prize of the Republic of Armenia for global contribution to IT 
Deputy Prime Minister: In the next 1-3 years, issue of transport in  Yerevan will be completely resolved Deputy Prime Minister: In the next 1-3 years, issue of transport in  Yerevan will be completely resolved 
Expert: Animal numbering and registration program to serve as basis  for other livestock projectsExpert: Animal numbering and registration program to serve as basis  for other livestock projects
Armenian government thinks about expanding capabilities of inspection  bodiesArmenian government thinks about expanding capabilities of inspection  bodies
Armen Sarkissian and representatives of Qatar Investment Fund  discussed prospects of cooperation Armen Sarkissian and representatives of Qatar Investment Fund  discussed prospects of cooperation 
Armenia`s GDP growth in Q3 of 2019, compared to same period in 2018,  amounted to 7.9%Armenia`s GDP growth in Q3 of 2019, compared to same period in 2018,  amounted to 7.9%
Arthur Javadyan left for Prague to attend 42nd session of Central  Bank Governors` Club of Central Asia, Black Sea Region and Balkan  CountriesArthur Javadyan left for Prague to attend 42nd session of Central  Bank Governors` Club of Central Asia, Black Sea Region and Balkan  Countries
Avinyan on the termination of Taron Avia Airlines operation: Air  transportation cannot be compared with transportation of people by  Avinyan on the termination of Taron Avia Airlines operation: Air  transportation cannot be compared with transportation of people by  "minibuses"
Avinyan: The issue of building a new copper smelting complex in  Armenia is on government`s agenda Avinyan: The issue of building a new copper smelting complex in  Armenia is on government`s agenda 
ADB to allocate $10 mln on reforms in Armenia`s education and  healthcare sectors ADB to allocate $10 mln on reforms in Armenia`s education and  healthcare sectors 
Current water tariff will be maintained in Armenia in 2020Current water tariff will be maintained in Armenia in 2020
SCR and GeoProMining Gold signed a cooperation agreement for 2020SCR and GeoProMining Gold signed a cooperation agreement for 2020
N. Pashinyan: The price of Russian gas for Armenia will not increase  until spring 2020N. Pashinyan: The price of Russian gas for Armenia will not increase  until spring 2020
Mekhak Apresyan: Tourist flow to Armenia will increase by 15% in 2019Mekhak Apresyan: Tourist flow to Armenia will increase by 15% in 2019
For monthly fee of AMD 4000 Beeline`s subscribers will receive fixed  100MB/s internetFor monthly fee of AMD 4000 Beeline`s subscribers will receive fixed  100MB/s internet
Expert: By 2027, the gas price on the border of Armenia will increase  to $ 299 per 1 thousand cubic metersExpert: By 2027, the gas price on the border of Armenia will increase  to $ 299 per 1 thousand cubic meters


Exchange rates
21.11.2019
RUB7.470.01
USD476.69-0.29
EUR528.460.78
GBP617.031.30
CAD358.20-0.49
JPY43.92-0.07
CNY67.89-0.14
CHF481.260.19


Experts
Tigran Khachatryan: Attracting several transnational investors to  Armenia will allow the country to start playing for high stakesTigran Khachatryan: Attracting several transnational investors to  Armenia will allow the country to start playing for high stakes
During the first 5 years, the agricultural insurance market in Armenia will operate at a lossDuring the first 5 years, the agricultural insurance market in Armenia will operate at a loss
Artak Kamalyan: Education is the key to success. Everything else is of secondary importanceArtak Kamalyan: Education is the key to success. Everything else is of secondary importance
Head of PSRC: Whatever the agreement, the domestic tariff is  dependent on the price at the borderHead of PSRC: Whatever the agreement, the domestic tariff is  dependent on the price at the border
IMF: Armenia needs to achieve sustainable inclusive growthIMF: Armenia needs to achieve sustainable inclusive growth
Artur Atoyan: Problems of fish farmers are solved by the communist  method, that is, they are not solved at allArtur Atoyan: Problems of fish farmers are solved by the communist  method, that is, they are not solved at all
HSBC Bank Armenia digitalizes cooperation with retail clients HSBC Bank Armenia digitalizes cooperation with retail clients 
AmRating agency in cooperation with European Rating-Agentur Expert RA  GmbH has issued regular research on Armenia`s banking systemAmRating agency in cooperation with European Rating-Agentur Expert RA  GmbH has issued regular research on Armenia`s banking system
Yulia Ustyugova: Armenia can get access to IMF “insurance line”Yulia Ustyugova: Armenia can get access to IMF “insurance line”
Armand Arton: The question whether citizenship should be granted in  return for investments is rather rhetoricalArmand Arton: The question whether citizenship should be granted in  return for investments is rather rhetorical
Former head of the Ministry of Finance: <Confrontation> with Lydian may cost much to ArmeniaFormer head of the Ministry of Finance: with Lydian may cost much to Armenia
Vardan Aramyan: It will be unreasonable if the government goes to revise the allowable national debt ceiling in GDPVardan Aramyan: It will be unreasonable if the government goes to revise the allowable national debt ceiling in GDP
HSBC Bank Armenia increases efficiency and focuses on digital servicesHSBC Bank Armenia increases efficiency and focuses on digital services
Bulgarian Minister: The level of Armenian-Bulgarian economic  cooperation is still unsatisfactoryBulgarian Minister: The level of Armenian-Bulgarian economic  cooperation is still unsatisfactory
Expert: Recruitment market in Armenia from the point of view of  supply and demand is sleepingExpert: Recruitment market in Armenia from the point of view of  supply and demand is sleeping
Expert: Despite the adequacy of Armenian banks` capitals, the  opportunities for its optimal use are severely limitedExpert: Despite the adequacy of Armenian banks` capitals, the  opportunities for its optimal use are severely limited
Association of Organic Agriculture is being created in ArmeniaAssociation of Organic Agriculture is being created in Armenia
Pailak Tadevosyan: Governments change in Armenia, but taxation  approaches do not changePailak Tadevosyan: Governments change in Armenia, but taxation  approaches do not change
Rouben Indjikian: Everyone should follow the established unified and fair rules of the gameRouben Indjikian: Everyone should follow the established unified and fair rules of the game
Mher Arakelyan:  Armenia`s payment business has great prospectsMher Arakelyan:  Armenia`s payment business has great prospects

Search by date

Government Bonds

Issue volume

10 billion

Volume of T-bills for placement

200 million

Volume of submitted competitive applications

200 million

Volume of satisfied bids

200 million

Yield at cut-off price

 5.8314%

Maximum yield

 5.8314%

Мinimum yield

 5.8314%

Weighted average yield

 5.8314%

Number of participants

2

The maturity date of T-bills

03.02.2020

ArmEx

 

СПРОС (Покупка)

USD

Средневзв. Цена

482,00

ПРЕДЛОЖЕНИЕ (Продажа)

  USD

Средневзв. Цена

-

СДЕЛКИ

USD

Цена откр.

482,00

Цена закр.

482,00

Мин. Цена

482,00

Макс. Цена

482,00

Ср/взв. Цена

482,00

-0.16

Кол-во сделок

1

Объем (инвал.)

200 000

0бъем (драм)

96 400 000

Commented
Russian processing company Russian processing company "MultiCarta" discussed cooperation  opportunities with Yerevan Municipality in the transport sector
$ 270 Million to be invested in the construction of the first  skyscraper in Yerevan$ 270 Million to be invested in the construction of the first  skyscraper in Yerevan
The AGBU Women Entrepreneurs Program Launched in Artsakh: FRUITFUL  ARMENIA Foundation is the partnerThe AGBU Women Entrepreneurs Program Launched in Artsakh: FRUITFUL  ARMENIA Foundation is the partner
Forecast: Armenia has good prospects for expanding its presence in  the Polish marketForecast: Armenia has good prospects for expanding its presence in  the Polish market
Armenian government`s delegation headed by Prime Minister will take  part in the St. Petersburg International Economic Forum on June 6-7Armenian government`s delegation headed by Prime Minister will take  part in the St. Petersburg International Economic Forum on June 6-7
Concessionaire of Zvartnots International Airport promises to become  one of the best operators in the worldConcessionaire of Zvartnots International Airport promises to become  one of the best operators in the world
Arthur Javadyan: Central banks are not responsible for economic  growthArthur Javadyan: Central banks are not responsible for economic  growth
Forecast: Electricity exports to the Middle East through Iran are a  key component of Armenia`s geo- economic strategyForecast: Electricity exports to the Middle East through Iran are a  key component of Armenia`s geo- economic strategy
ArmInfo IC: In Armenia,  CMTPL loss ratio increased up to 64.5% in Q1  2019ArmInfo IC: In Armenia,  CMTPL loss ratio increased up to 64.5% in Q1  2019
From January 1, 2020, the cost of customs clearance of cars from  non-EEU countries in Armenia will increase by at least 4-5 fold:  whether the market for used cars is going upFrom January 1, 2020, the cost of customs clearance of cars from  non-EEU countries in Armenia will increase by at least 4-5 fold:  whether the market for used cars is going up
Overdue loans accelerate growth in banking system of ArmeniaOverdue loans accelerate growth in banking system of Armenia
RA Prime Minister: European Union is not ready to finance 100% of  development programs implementation in ArmeniaRA Prime Minister: European Union is not ready to finance 100% of  development programs implementation in Armenia
Converse Bank offers online loans at a low effective interest rateConverse Bank offers online loans at a low effective interest rate
Renco company will attract additional shareholders and partners to  the project of building a new thermal-power plant in ArmeniaRenco company will attract additional shareholders and partners to  the project of building a new thermal-power plant in Armenia
T.Avinyan: The Government is open for cooperation and encourages  active dialogue and interaction in all areas T.Avinyan: The Government is open for cooperation and encourages  active dialogue and interaction in all areas 
Agreement on construction of a new unit with combined gas cycle  signed in YerevanAgreement on construction of a new unit with combined gas cycle  signed in Yerevan
Veolia Jur: Regulatory charges are false and unfoundedVeolia Jur: Regulatory charges are false and unfounded
Armenian Prime Minister: We are gaining momentum for economic takeoffArmenian Prime Minister: We are gaining momentum for economic takeoff
Through the mobile banking application of Ardshinbank you can get a  loan in seconds.Through the mobile banking application of Ardshinbank you can get a  loan in seconds.
By the end of 2018, By the end of 2018, "Galburdjian Group" will launch the production of  sesame oil in Armenia
Expert: Armenia has a problem with effective use of water resources,  rather than small hydropower stationsExpert: Armenia has a problem with effective use of water resources,  rather than small hydropower stations
Investment forum Investment forum "Energy Week 2018" to be held in Armenia
Expert: It is necessary to start implementing the program for the  construction of a new nuclear unitExpert: It is necessary to start implementing the program for the  construction of a new nuclear unit