EcoLur
The geoprospecting works are not carried out in Armenia by 90%. Estimates show, only 10% of the financial investment for 24 billion AMD has been carried out in regard with the prospecting 55 metallic mines out of 147. On 18 March Energy and Natural Resources Minister Yervand Zakharyan discussed the obligations of the companies implementing geoprospecting for mining purposes.
The State Inspection on Subsoil of Energy and Natural Resources Ministry carried out inspections, which showed only 4 companies have carried out proper geoprospecting and filed relevant reports, out of which 3 with the confirmation of reserves. 21 companies have performed the works partially, while 30 companies haven’t performed any works or haven’t flied any reports, www.minenergy.am website says.
Those companies, who haven’t performed their contractual obligations or have their term expired, won’t be entitled to revision, while statutory sanctions will be imposed over defaulting companies, Minister Yervand Zakharyan outlined. The minister noted it’s impermissible for the companies having granted the right to prospecting not to make any investments and works over years and not to permit the access of other investors into the field.
From now on stricter approach will be exercised. Statutory sanctions will be exercised over defaulting business entities up to terminating soil management contract.
March 19, 2015 at 13:04