SOS TEKHUT TO HOLD A PROTEST ACTION IN FRONT OF VTB BANK

ArmInfo
2010-07-27 17:43:00

ArmInfo. July 28 the SOS Tekhut group will hold a protest action
in front of VTB Bank. The protesters will speak against the bank's
financing the ACP's Tekhut project.

VTB Bank is planning to provide $280mln for the development of the
Tekhut copper-molybdenum deposit despite ecologists' warnings that
this project will damage the ecology of the area and the health of
the local population. The protesters say that the ecological risks
specified in the ACP's project are seriously understated. Besides,
the Tekhut project runs counter to Armenia's legislation and the
international conventions the country has signed.

Tekhut is the second biggest deposit in Armenia after Kajaran with
estimated reserves of 450mln tons of ore, 1.6mln tons of copper and
99,000 tons of molybdenum. The ACP's project was approved by the
Armenian Government in Nov 2007.




From: A. Papazian