“VTB, Don’t Make A Mistake” Teghout Supporters Accusing Bank (Photos)

“VTB, Don’t Make A Mistake” Teghout Supporters Accusing Bank (Photos)


“VTB, Don’t Make A Mistake”, “Free Teghout From Cancer” and “Teghout – Our Green Hometown”: the environmental activists and a group of concerned citizens were chanting these slogans and “shame” on 10 October, who once again came out to express their protest against Teghout mine development. The protest demonstration started from the front of the building of the Armenian Government and headed for VTB Bank.

The activists accused VTB of funding Teghout copper and molybdenum mine, “We are calling our citizens not to make use of this bank’s services, as it funds an environmentally adversary project,” the activists were appealing to the citizens. 

The allegations continued near Vallex Group office. Vallex Group Company, which develops the soul of Teghout, proudly mentions that this mine is going to be the largest in the region and will have the largest tailing dump. I wonder whether we are proud of toxicity or the most toxic substances or the tailing dump full of metals? Syunik can already be considered a dead zone because of the impact of these heavy metals. Teghout mine development is an end for Armenia: we have already crossed out Syunik, which is not suitable for living and now the same is happening to Lori,” environmental activist Gevorg Safaryan said. 

 Reminder: Teghout copper and molybdenum mine is the second largest copper and molybdenum mine, which is going to be developed by Teghout CJSC, a part of Vallex Group. Russian VTB Banks has granted a loan to the company. Under the official data, around 357 ha of forest will be felled down for the mine development, nevertheless, the assessment of independent experts show around 2000 ha of forest will be destroyed.

17:48 October 11, 2013


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