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Committee On Lake Sevan Issues May Revise Its Position On Amulsar

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  • Committee On Lake Sevan Issues May Revise Its Position On Amulsar

    COMMITTEE ON LAKE SEVAN ISSUES MAY REVISE ITS POSITION ON AMULSAR

    arminfo
    Tuesday, July 31, 14:11

    The Committee on Lake Sevan Issues may revise its position on Amulsar,
    Alexey Tarverdyan, a member of the Committee, said at today's public
    hearings on the Amulsar gold mine. To recall, earlier the Committee
    gave a negative conclusion on the given project.

    "We are very much concerned over this statement. The Law "On Sevan"
    says that the Kechut and Spandaryan tailing dumps located near Amulsar,
    as well as the basin of the rivers Vorotan and Arpa are included in
    the catch basin of Lake Sevan. The law bans ore mining activities in
    the Sevan basin", Inga Zarafyan, Head of EcoLur NGO, said to ArmInfo's
    correspondent. She expressed hope that the process of the Amulsar
    environmental risk assessment will be maximally released from the
    pressure of investors and political forces, as it touches on issues
    of preservation of Lake Sevan and development of the resort zone
    of Jermuk.

    To note, in February 2012 Armenian Economy Minister Tigran Davtyan
    said that the Amulsar project was being implemented by a well-known
    company, which committed itself to observe all the environmental
    standards. The minister assured that the mine was rather a long way
    from the town of Jermuk, therefore, any speculations on the project
    were absolutely groundless. In addition, the technologies to be used
    in the course of the Amulsar development meet all the international
    standards and the toughest environmental requirements.

    To recall, in 2012 Geoteam CJSC is going to invest $52 mln in the
    eologic exploration and preparation for development of the Amulsar gold
    mine at the south of Armenia. 95% of Geoteam's shares belong to Lydian
    International Ltd. According to the preliminary data of the company, it
    is planned to extract over 40 tons of gold from the Amulsar mine. Such
    authoritative institutional investors as the International Finance
    Corporation (16.5%) and the European Bank for Reconstruction and
    Development (7.5%) are among the shareholders of Lydian International.




    From: A. Papazian
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