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LYDIAN RECEIVES COMPREHENSIVE MINING RIGHT APPROVAL FOR AMULSAR GOLD PROJECT
Tuesday 2 December 2014 12:24
Photo: Mediamax
Hayk Aloyan, General Manager of Geoteam CJSC
Yerevan/Mediamax/. The Ministry of Energy and Natural Resources of
Armenia has granted to Geoteam CJSC, Lydian International's 100%
owned subsidiary, Mining Right for the Amulsar Gold Project.
This represents the final stage of the mining permitting process and
grants the Company the right to develop the Amulsar Project in line
with the parameters detailed in the feasibility study.
The approval covers:
- all project infrastructure, including the location for crushers,
the conveyor and heap leach facility; - a mining permit applicable to
the pits; - definition of the area within which operating activities
may take place; - a mining agreement that outlines the nature and
duration of mining operations.
Granting of the Mining Right follows an extensive application,
consultation, and review process.
Previously, Lydian received approval of its environmental impact
assessment (EIA) from the Armenian government's Ministry of Nature
Protection, acting under the Armenian Mining Code and EIA Law, based
on expert reviews and public discussions. In parallel, the Ministry
of Emergency Situations approved the Technical Safety Program (TSP.
Howard Stevenson, President and CEO Lydian International, said "The
previous EIA and TSP approvals, and now this most recent approval
of the Mining Right, were the subjects of intensive and thorough
interaction with the Armenian authorities, local communities, members
of civil society, and others. Thank you to all who participated in
this process. We look forward to a long working relationship within
Armenia as this project progresses into construction and production.
Lydian intends that Amulsar will become an exemplary mining and
investment project in Armenia, beneficial both for the country and for
our investors. Lydian is committed to implementing best international
practices at Amulsar by complying with IFC and the EBRD environmental
and social standards throughout the project's duration."
Hayk Aloyan, General Manager of Geoteam CJSC, said "Amulsar is
around US$420 million investment project that represents tangible
opportunities for economic benefits for the country and the adjacent
communities. It will offer around 1500 jobs during the two years
of construction and over 700 permanent jobs for at least 10 years
of operation. Amulsar also highlights an opportunity to develop a
mining project in Armenia in line with industry best practice, with
world-class environmental and social management that will benefit
the country and the communities around the project. We believe that
Armenia can have a modern and well managed mining industry that
will contribute greatly to the well-being of its citizens. We are
looking forward for productive cooperation with the communities and
all stakeholders across Armenia to be able to make this project a
successful investment, beneficial for our country".
http://www.mediamax.am/en/news/society/12457/
Tuesday 2 December 2014 12:24
Photo: Mediamax
Hayk Aloyan, General Manager of Geoteam CJSC
Yerevan/Mediamax/. The Ministry of Energy and Natural Resources of
Armenia has granted to Geoteam CJSC, Lydian International's 100%
owned subsidiary, Mining Right for the Amulsar Gold Project.
This represents the final stage of the mining permitting process and
grants the Company the right to develop the Amulsar Project in line
with the parameters detailed in the feasibility study.
The approval covers:
- all project infrastructure, including the location for crushers,
the conveyor and heap leach facility; - a mining permit applicable to
the pits; - definition of the area within which operating activities
may take place; - a mining agreement that outlines the nature and
duration of mining operations.
Granting of the Mining Right follows an extensive application,
consultation, and review process.
Previously, Lydian received approval of its environmental impact
assessment (EIA) from the Armenian government's Ministry of Nature
Protection, acting under the Armenian Mining Code and EIA Law, based
on expert reviews and public discussions. In parallel, the Ministry
of Emergency Situations approved the Technical Safety Program (TSP.
Howard Stevenson, President and CEO Lydian International, said "The
previous EIA and TSP approvals, and now this most recent approval
of the Mining Right, were the subjects of intensive and thorough
interaction with the Armenian authorities, local communities, members
of civil society, and others. Thank you to all who participated in
this process. We look forward to a long working relationship within
Armenia as this project progresses into construction and production.
Lydian intends that Amulsar will become an exemplary mining and
investment project in Armenia, beneficial both for the country and for
our investors. Lydian is committed to implementing best international
practices at Amulsar by complying with IFC and the EBRD environmental
and social standards throughout the project's duration."
Hayk Aloyan, General Manager of Geoteam CJSC, said "Amulsar is
around US$420 million investment project that represents tangible
opportunities for economic benefits for the country and the adjacent
communities. It will offer around 1500 jobs during the two years
of construction and over 700 permanent jobs for at least 10 years
of operation. Amulsar also highlights an opportunity to develop a
mining project in Armenia in line with industry best practice, with
world-class environmental and social management that will benefit
the country and the communities around the project. We believe that
Armenia can have a modern and well managed mining industry that
will contribute greatly to the well-being of its citizens. We are
looking forward for productive cooperation with the communities and
all stakeholders across Armenia to be able to make this project a
successful investment, beneficial for our country".
http://www.mediamax.am/en/news/society/12457/