Armenia’s prosecutor general’s office directed suit to economic court against Ararat Gold Recovery Company
03.08.2007,
05:55
Deputy Prosecutor General of Armenia Gagik Jangiryan directed an suit to the Economic Court of Armenia against Ararat Gold Recovery Company (AGRC).
YEREVAN, August 2. /ARKA/. Deputy Prosecutor General of Armenia Gagik Jangiryan directed an suit to the Economic Court of Armenia against Ararat Gold Recovery Company (AGRC).
The press secretary of the Prosecutor General’s Office Sona Truzyan said, that the suit contained a request to dissolve ahead of time the agreement between the RA Ministry of Environmental Protections and the Company AGRC “On transferring for exploitation the Sotk gold deposit” signed on March 13, 1999.
Jangiryan also asks to stop the Company’s rights by the special license for bosom using issued by the RA Ministry of Trade and Economic Development on June 7, 2004.
Besides, he asked the Economic Court to exact AMD 4bln 6.1mln and $10mln from the Company for the state budget of Armenia, and for providing the suit before the beginning of the legal proceedings to put under a ban the Company’s property and accounts totaling the above-mentioned sum.
AGRC Director Vardan Vardanyan told ARKA that the Company was aware of the suit, but had no information about the terms of applying to the court, as the Prosecutor General’s Office was preparing definite documents.
“Only the court can comment on the decision of the Prosecutor General’s Office, if there is one. The Company will follow the development of the events: we will wait for the suit and notification from the Prosecutor General’s Office, after that our lawyers will take up the case,” Vardanyan said.
Ararat Gold Recovery Company (AGRC) was founded on June 24, 1998 and exploits the Sotk and Meghradzor mines of Armenia. The AGRC owner is the Indian Company Vedanta Resources, the activities of which have recently displeased Armenia.
The Government has suspicions that the Company overrates the investment indices of the mine elaboration and hides the information about the real reserves of gold.
On July 24, 2007, the State Inspection on Nature Protection stated its intention to conduct a supplementary inspection on the volume of bosom usage in the AGRC from 2004 up to present. The reason for the inspection is the revelation of illegal mining of 550 kg of gold by the AGRC, the owners of which still deny the information. L.M. –0--
The press secretary of the Prosecutor General’s Office Sona Truzyan said, that the suit contained a request to dissolve ahead of time the agreement between the RA Ministry of Environmental Protections and the Company AGRC “On transferring for exploitation the Sotk gold deposit” signed on March 13, 1999.
Jangiryan also asks to stop the Company’s rights by the special license for bosom using issued by the RA Ministry of Trade and Economic Development on June 7, 2004.
Besides, he asked the Economic Court to exact AMD 4bln 6.1mln and $10mln from the Company for the state budget of Armenia, and for providing the suit before the beginning of the legal proceedings to put under a ban the Company’s property and accounts totaling the above-mentioned sum.
AGRC Director Vardan Vardanyan told ARKA that the Company was aware of the suit, but had no information about the terms of applying to the court, as the Prosecutor General’s Office was preparing definite documents.
“Only the court can comment on the decision of the Prosecutor General’s Office, if there is one. The Company will follow the development of the events: we will wait for the suit and notification from the Prosecutor General’s Office, after that our lawyers will take up the case,” Vardanyan said.
Ararat Gold Recovery Company (AGRC) was founded on June 24, 1998 and exploits the Sotk and Meghradzor mines of Armenia. The AGRC owner is the Indian Company Vedanta Resources, the activities of which have recently displeased Armenia.
The Government has suspicions that the Company overrates the investment indices of the mine elaboration and hides the information about the real reserves of gold.
On July 24, 2007, the State Inspection on Nature Protection stated its intention to conduct a supplementary inspection on the volume of bosom usage in the AGRC from 2004 up to present. The reason for the inspection is the revelation of illegal mining of 550 kg of gold by the AGRC, the owners of which still deny the information. L.M. –0--
