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GEOTEAM CJSC EXPLAINS REASONS OF ITS REFUSAL FROM PARTICIPATION IN DISCUSSIONS ON IMPACT OF AMULSAR GOLD PROJECT ON JERMUK
arminfo
Tuesday, March 13, 15:55
Geoteam cjsc will not participate in today's discussions on the
impact of Amulsar gold deposit development on the town of Jermuk,
for the company has received no official invitation, the statement
by Geoteam Company says. The discussions are organized by Jermuk
Development Center. The company reports that a representative
of Geoteam cjsc was included in the list of the invitees without
preliminary notification of the company. Geoteam has never avoided
public hearings and had conducted such hearings in the Gorayk,
Saravan and Gndevaz communities. The last hearing was held on March 12.
'We have repeatedly mentioned that surveys by local and foreign
specialists show that Geoteam's activity cannot cause any environmental
or other damage to Jermuk. The results of the environment impact
assessment are available on our website. We are sure that discussions
should be aimed at revealing the truth. We have grounds to think
that the goals of the discussions held by Jermuk Development Center
are quite different," the statement reads. The company recalls that
Geoteam suggested the Jermuk authorities to help developing the
tourist infrastructures. It was reported earlier that in 2012 Geoteam
cjsc, Armenia, is expected to invest $52 million in the geological
exploration and preparation of the Amulsar gold deposit in the south
of Armenia for exploitation. Geoteam CJSC is a 95% owned subsidiary
of Lydian International Limited. Geoteam CJSC, was incorporated in
2005. By preliminary data of the company, it plans to recover over 40
tons of gold from the Amulsar deposit. Lydian's largest shareholders
are the International Finance Corporation - 16.5%, and the European
Bank for Reconstruction and Development -7.5%.
arminfo
Tuesday, March 13, 15:55
Geoteam cjsc will not participate in today's discussions on the
impact of Amulsar gold deposit development on the town of Jermuk,
for the company has received no official invitation, the statement
by Geoteam Company says. The discussions are organized by Jermuk
Development Center. The company reports that a representative
of Geoteam cjsc was included in the list of the invitees without
preliminary notification of the company. Geoteam has never avoided
public hearings and had conducted such hearings in the Gorayk,
Saravan and Gndevaz communities. The last hearing was held on March 12.
'We have repeatedly mentioned that surveys by local and foreign
specialists show that Geoteam's activity cannot cause any environmental
or other damage to Jermuk. The results of the environment impact
assessment are available on our website. We are sure that discussions
should be aimed at revealing the truth. We have grounds to think
that the goals of the discussions held by Jermuk Development Center
are quite different," the statement reads. The company recalls that
Geoteam suggested the Jermuk authorities to help developing the
tourist infrastructures. It was reported earlier that in 2012 Geoteam
cjsc, Armenia, is expected to invest $52 million in the geological
exploration and preparation of the Amulsar gold deposit in the south
of Armenia for exploitation. Geoteam CJSC is a 95% owned subsidiary
of Lydian International Limited. Geoteam CJSC, was incorporated in
2005. By preliminary data of the company, it plans to recover over 40
tons of gold from the Amulsar deposit. Lydian's largest shareholders
are the International Finance Corporation - 16.5%, and the European
Bank for Reconstruction and Development -7.5%.