Tweet
U.S. AMBASSADOR: AMULSAR PROJECT HAS THE POTENTIAL TO CREATE A CONSIDERABLE ECONOMIC IMPACT IN ARMENIA
Mediamax, Armenia
June 27 2013
Yerevan /Mediamax/. UK Ambassador Katherine Leach and U.S. Ambassador
John Heffern visited the Amulsar gold project site and the two of
the surrounding villages, namely Gorayk and Gndevaz June 26.
The trip was for the Ambassadors to familiarize themselves with the
project details and with some of the social development projects
Geoteam is undertaking in the neighboring communities, as part
of their on-going Local Economic Development and Corporate Social
Responsibility initiatives.
During the trip, the Ambassadors were briefed by Lydian/Geoteam mining,
environmental and social development teams about the current state of
the project as well as the Environmental and Social Impact Assessment
(ESIA) preparation and the Armenia permitting process.
At the conclusion of the visit Ambassador Leach said:
"At the G8 Summit last week our Prime Minister David Cameron stressed
the importance of countries and companies working together to drive
up global standards in the extractives sector. As a UK based company
Lydian International represents potentially the largest British
investment in Armenia.It is important to us that this project is
backed by investors, such as the IFC and EBRD, who demand the highest
international standards in the mining industry. This includes making
sure that local communities are kept closely informed and receiving
positive economic and social benefits from the project."
U.S. Ambassador John Heffern said:
"Lydian International's Amulsar mine represents an important foreign
investment project in Armenia. Since many of the company's shareholders
are US based investors, I was interested in having a closer look at
the project. The project has the potential to create a considerable
economic impact in Armenia, and we hope it will provide an example
of how a mining company can operate responsibly, in line with
international best practice"
Geoteam CJSC the 100% owned subsidiary of Lydian International. Among
its investors are worldwide known investment institutions such as
New York based Amber Capital, First Eagle Investment Management,
Franklin Templeton and Invesco Trimark Canada. Two of the largest
and long term shareholders are IFC (part of the World Bank) and the
European bank of Reconstruction and Development.
Mediamax, Armenia
June 27 2013
Yerevan /Mediamax/. UK Ambassador Katherine Leach and U.S. Ambassador
John Heffern visited the Amulsar gold project site and the two of
the surrounding villages, namely Gorayk and Gndevaz June 26.
The trip was for the Ambassadors to familiarize themselves with the
project details and with some of the social development projects
Geoteam is undertaking in the neighboring communities, as part
of their on-going Local Economic Development and Corporate Social
Responsibility initiatives.
During the trip, the Ambassadors were briefed by Lydian/Geoteam mining,
environmental and social development teams about the current state of
the project as well as the Environmental and Social Impact Assessment
(ESIA) preparation and the Armenia permitting process.
At the conclusion of the visit Ambassador Leach said:
"At the G8 Summit last week our Prime Minister David Cameron stressed
the importance of countries and companies working together to drive
up global standards in the extractives sector. As a UK based company
Lydian International represents potentially the largest British
investment in Armenia.It is important to us that this project is
backed by investors, such as the IFC and EBRD, who demand the highest
international standards in the mining industry. This includes making
sure that local communities are kept closely informed and receiving
positive economic and social benefits from the project."
U.S. Ambassador John Heffern said:
"Lydian International's Amulsar mine represents an important foreign
investment project in Armenia. Since many of the company's shareholders
are US based investors, I was interested in having a closer look at
the project. The project has the potential to create a considerable
economic impact in Armenia, and we hope it will provide an example
of how a mining company can operate responsibly, in line with
international best practice"
Geoteam CJSC the 100% owned subsidiary of Lydian International. Among
its investors are worldwide known investment institutions such as
New York based Amber Capital, First Eagle Investment Management,
Franklin Templeton and Invesco Trimark Canada. Two of the largest
and long term shareholders are IFC (part of the World Bank) and the
European bank of Reconstruction and Development.