Armenia
Armenian government to provide $150 million loan guarantee for Amulsar gold mine
The Eurasian Development Bank previously rejected a loan of $100 million for the mine operation despite a signed memorandum.
 |  |  | ||
 |  |  |
After over a decade of controversy over environmental, labour, and economic concerns, the Armenian government has finally greenlit the operation of the Amulsar gold mine in Jermuk.
Since the project’s announcement, local communities in and around Jermuk have expressed concern about the mine’s potential impact on their lives and livelihoods, while environmental activists have warned about the catastrophic environmental effects the mines could have on the region.
This week, we spoke to Knar Khudoyan, a journalist who has been closely following the protests surrounding the mine, to Anna Shahnazaryan, an environmental activist who has been campaigning against the mine, and to Hovhannes Avetisyan, an economist and public policy analyst, about the viability of the project.
Read more:
- Armenia greenlights controversial Amulsar gold mine
- Anti-mining activists put New Armenia’s ‘people power’ to the test
- Rural communities in Armenia give mining companies the boot
Become a supporter at oc-media.org/support_us, or on Patreon.
Related Articles
Armenia
Eurasian Development Bank rejects loan for Amulsar mine operations
Eurasian Development Bank rejects loan for Amulsar mine operations0:00/3:451× Armenian Economic Minister Gevorg Papoyan stated that discussions are ongoing with commercial banks in Armenia after the Eurasian Development Bank (EDB) rejected a loan to operate the Amulsar gold mine. This has led to speculation that the EDB’s decision was influenced by the results of the environmental assessment it commissioned as part of its final loan decision. Papoyan refrained from commenting on the reasons be
Amulsar
Armenia greenlights controversial Amulsar gold mine
Operation of the contested Amulsar goldmine has been greenlit after Armenia’s government accepted a 12.5% share in the mines on Thursday. The agreed project also notes that the Ministry of Economy will manage the share once the mines are operational. The share was agreed upon when Lydian Armenia, the company operating the mines, Armenia’s Economy Ministry, and the Eurasian Development Bank (EDB) signed a memorandum of understanding in February 2023. The government’s decision to accept the
Amulsar
Protesters, police, and private security clash at Armenia’s Amulsar Mine
Protesters have clashed with police and private security outside the Amulsar Mine in Armenia after security guards dismantled a part of a blockade at the mine’s entrances. On Monday night, mining company Lydian Armenia removed protesters’ cabins from two of the three entrances to the mine with cranes, replacing them with their own structures. Lydian Armenia is a subsidiary of Lydian International, registered in the British tax haven of Jersey. The blockade of the mine was organised by a
