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13 Feb 2018

Armenia: Amulsar gold mine poses high risk of water contamination & adverse environmental impacts, say experts; inc. company & shareholders' responses

The report "Amulsar Gold Project: Overview of Concerns with the Amulsar Gold Project, Potential Consequences, and Recommendations" by independent experts argues the Amulsar gold mine project, owned by Lydian International, poses a high risk of long-term, adverse impacts to the environment, including drinking water resources in Armenia.

Business & Human Rights Resource Centre invited the company and its reported shareholders to respond. Lydian International, RBC Asset Management, European Bank for Reconstruction & Development (EBRD), Resource Capital Funds and Orion Mine Finance responded. Franklin Resources Inc., Donald Smith & Co., Amber Capital and ASA Gold & Precious Metals Limited did not respond.

Company Responses

European Bank for Reconstruction and Development (EBRD) View Response
Resource Capital Funds View Response
Orion Mine Finance View Response
Franklin Templeton (Franklin Resources)

No Response

Donald Smith & Co.

No Response

Amber Capital

No Response

ASA Gold & Precious Metals Limited

No Response

Lydian International View Response
RBC Global Asset Management View Response

Timeline