Armenian environmental NGOs and activists demand that government stop development of Amulsar gold project

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01.03.2023, 19:24

Twenty-two Armenian NGOs and environmental activists expressed today in a statement their deep disappointment and dissatisfaction "in connection with the illegal, short-sighted, irresponsible, adventurous and risky' decision of the government to restart the Amulsar gold mining project that was disrupted by protesters shortly after the 2018 “velvet revolution.'

Armenian environmental NGOs and activists demand that government stop development of Amulsar gold project

YEREVAN, March 1. /ARKA/. Twenty-two Armenian NGOs and environmental activists expressed today in a statement their deep disappointment and dissatisfaction "in connection with the illegal, short-sighted, irresponsible, adventurous and risky' decision of the government to restart the Amulsar gold mining project that was disrupted by protesters shortly after the 2018 “velvet revolution.'

The environmentalists has put forward a number of demands to the state structures. In particular, in a letter addressed to the President they demand that national security and environmental protection be ensured. They also demand that the Ministry of Territorial Administration and Infrastructure suspend the mine exploitation license issued to Lydian Armenia company.

They demand that the Health Ministry publicize the results of all expert assessments on the impact of Amulsar and other mines on human health.

They demand that the Prosecutor General's Office opens a criminal case and reveal all those responsible for omissions in environmental impact assessment and expertise. And eventually they demand that the government stop the project.

Armenian Economy Minister Vahan Kerobyan, Lydian Armenia company’s board member Jeffrey Coach, and a senior executive of the Kazakhstan-based Eurasian Development Bank (EDB signed earlier this month a memorandum of understanding in Yerevan to restart the project.

The company will have to raise $250 million for finishing the construction of mining and smelting facilities at Amulsar. To that end Lydian Armenia will borrow $100 million from the EDB and another $50 million from an Armenian bank.

The company plans to produce 7 tons of gold per year. Armenian government will receive 12.5% of the new company's shares in return for its pledge to manage their risks. The Lydian Armenia is expected also to pay between 30 and 40 billion drams ($75-$100 million) in various taxes each year and create hundreds of jobs. -0-

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