"We are going to make the Republic of Armenia a responsible representative and reliable partner of the international community. We are trying to take all the steps to increase the economic and investment attractiveness of Armenia," RA Prime Minister Nikol Pashinyan said about this during the press conference held on March 14. In this context, Nikol Pashinyan mentioned the plan for Amulsar gold mining.
"After 4-5 years of suffering, and studies, we signed a memorandum regarding the operation of Amulsar mine. It is a very big and very serious investment stimulus for the Republic of Armenia. During this period, one important thing changed: the Republic of Armenia receives a 12.5 percent share in the project, that is, the people of the Republic of Armenia. This means that the budget of the Republic of Armenia will receive income from the potential profits.
Beyond this, the affected communities will receive financial support of $7 million annually. This means that the annual budgets of the affected communities, at least Jermuk and Vayq, will be doubled. When their budgets increase, their subsidy opportunities will double, and the amount of government investment will also increase. This means new jobs, new investment opportunities. We are trying to create internal pillars so that our economy can progress," Nikol Pashinyan said.
Reminder: on February 22 of this year, the RA government signed a tripartite memorandum of understanding with the Eurasian Development Bank and "Lydian Armenia" CJSC to resume Amulsar gold-bearing quartzite mining project. The civil society opposed this initiative, stating that this decision of the RA government is illegal, short-sighted, irresponsible, adventurous, fraught with dangers for the state.
March 14, 2023 at 15:24