Armenian Economy Minister Karen Tchshmarityan's Response to Amulsar Project Investments

Armenian Economy Minister Karen Tchshmarityan's Response to Amulsar Project Investments

EcoLur

The investments into Amulsar gold mining project will make up 460-480 million USD, as Armenian Economy Minister Karen Tchshmarityan said at the governmental meeting on 3 December. According to him, “Lydian International” Company has agreed upon the launch of the project with the financial groups, on financial investments – around 325 million USD will be invested. International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD) will also invest funds into the project. According to Economy Minister Karen Tchshmarityan, as a result the production of gold bars will be economically beneficial in Armenia.

It should be mentioned that Amulsar project will be implemented in Lake Sevan Basin area, next to Jermuk resort town and heap leaching method will be used to extract gold from Amulsar ore, which poses great risks for Lake Sevan, a strategic object, and Jermuk town, but our officials don’t speak about these issues.

18:54 December 03, 2015


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