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22 Feb 2023

JAM News

Armenia: Controversial Amulsar gold mine receives green light after govt. signs investment agreement with Eurasian Development Bank

Hayk Kharatyan

“Lake Sevan and the city of Jermuk are in danger due to mining”: Armenian environmentalists, 22 February 2023

“The Amulsar gold mine will be put into use,” Armenian Minister of Economy Vahan Kerobyan said on February 22. A few hours later, a memorandum of understanding was signed between the Armenian government, the Eurasian Development Bank, and Lydian Armenia. By obtaining the right to operate the mine, the company will transfer 12.5% of its shares to the Armenian government...

The Amulsar mine is located in the valley of the Arpa and Vorotan rivers. Environmentalists have raised concerns that gold mining will pollute their waters. This, in turn, will affect the ecosystem of Lake Sevan, the largest freshwater lake in Armenia... Irreparable damage will be done to the mineral springs of Jermuk...