Tuesday, January 19 2021 13:25
Alexandr Avanesov

Head of the Commission: Mining Companies Reporting Can`t Instill  Trust

Head of the Commission: Mining Companies Reporting Can`t Instill  Trust

ArmInfo. The reporting of mining companies cannot inspire confidence. On January 19 at the National Assembly of Armenia, presenting a report on the work of the  parliamentary commission to investigate the legality and validity of  investment programs in the field of metal deposits approved by the  government of the country, Sergey Bagratyan, the chairman of the  commission, stated this on January 19.

According to him, the commission, which was created by force of law  on the basis of the demand of 1/4 of the deputy corps, was held  research on 30 metal deposits. According to the report of the RA  Prosecutor General's Office, criminal cases have been initiated  against 2 metal deposits. 27 companies engaged in the development of  metal deposits, the licenses issued will expire from 2025 to 2045.  However, none of these companies paid income tax. For almost all of  these fields, no reliable data was obtained on the volume of  investments and the volume of programs approved by the government of  the country. Moreover, in a number of cases, during the operation of  deposits, environmental standards were violated, which negatively  affected the nearby cultural monuments.

The Commission suggested holding broad discussions with the  involvement of specialists and officials to identify the problems in  the field and ways to solve them. It was also proposed to develop and  adopt a package of legislative changes aimed at resolving the issue.  Together with UNESCO specialists, hold a video conference to clarify  the status of cultural monuments. It is also proposed to develop  mechanisms for monthly reporting by mining companies. Note that the  state balance sheet of mineral reserves currently includes more than  670 solid mineral deposits with proven reserves, including 30  metallic ones. About 400 of these deposits are exploited, including  23 metal ones. In terms of metallic minerals, there are 7 copper-  molybdenum deposits, 4 copper, 14 gold and gold-polymetallic  deposits, 2 iron ore and 1 aluminum ore.


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