ArmInfo. If the operation of the Amulsar project is considered disastrous from an environmental point of view, then 90% of mining enterprises should have been suspended. Such an opinion was expressed by the former Minister of Nature Protection of the Republic of Armenia, Advisor to the Director of the Institute of Geology of the National Academy of Sciences of Armenia Sargis Shahazizyan at a press conference on August 8.
He emphasized that he was familiar with the Amulsar program, which consists of 900 pages, and examined the submitted documents. In continuation of the above, S. Shahazizyan noted that the program is divided into two parts: the first refers to the consequences, and the second presents a program of measures in case these problems arise. "It seems to me that a certain part of people read only the first part," he said.
The expert, noting that the document was developed at a fairly high professional level, emphasized in this context that no one in the state had previously developed such programs. At the same time, he drew attention to another important problem in the mining industry of Armenia. "If the state's share of each mine was at least 20-30%, we would have a fairly impressive state budget," he concluded.
To recall, Lydian Armenia is a subsidiary of the British Lydian International, whose shareholders are also large international institutional investors from the United States, Britain, several European countries, including EBRD. The Amulsar project is the largest industrial project in Armenia today for the development of the Amulsar gold ore deposit with a total value of $ 370 million. In August 2016, the project for the construction and development of the deposit was launched. Preparatory work has been carried out since 2006. The life of the Amulsar deposit is 10 years and 4 months; an average of 200 thousand ounces of gold (about 10 million tons of ore) is planned to be mined annually. The company's shares are listed on the Toronto Stock Exchange. Amulsar field is the second largest reserve in Armenia.