Amulsar mine example of application of international standards in mine development - Armen Stepanyan

ArmInfo. International Finance  Corporation standards need to be widely applied in the operation of  mining companies, Armen Stepanyan, Director of Sustainability,  Zangezur Copper Molybdenum Combine, said in an interview with  ArmInfo. 

In his words, these standards are applied today by many commercial  banks of the world, including Armenia, which are guided by  performance standards in their activities. There are stronger  standards and lighter ones, but in Armenia there is a need to apply  medium standards. In the republic, as Stepanyan noted, there is  experience in applying such standards on the example of the program  for the development of the Amulsar gold deposit. As part of the  implementation of this program, IFC standards were applied and are  being applied both during the development of the project and during  its implementation.

Stepanyan also noted that the best way to implement new standards  could be investments in the mining industry, which will not only  enrich experience, but also ensure the application of new standards.  "I think it is necessary to establish an average standard that all  enterprises in the mining industry would comply with.  In addition,  competent application of Armenian legislation will also help to  achieve good results," Stepanyan stressed.

Note that the IFC Strategy includes 8 standards to ensure  environmental and social sustainability. They are designed to assist  clients in preventing, mitigating and managing risks and adverse  impacts for the sustainable conduct of business, and set out the  client's responsibilities for stakeholder engagement and business  disclosure. The performance standards may also apply to other  financial institutions. These standards include assessment and  management of environmental and social risks and impacts, management  of workers and working conditions, rational use of resources and  pollution prevention, public health and safety, land acquisition and  involuntary resettlement, biodiversity conservation and sustainable  management of living natural resources, maintenance of indigenous  peoples, preservation of cultural heritage.