[CLSTR]
< Back to situations

Monitor this situation.

[SITUATION] · [QUIET] · [BUSINESS]

2 clusters · 15 sources · 11 days · First seen · Last updated

Amulsar gold mine operations and protests in Armenia

Overview

The Amulsar gold mine in Armenia’s Vayots Dzor region has officially commenced commercial operations through a partnership between the Armenian government and Lydian Armenia. The project involves a $750 million investment, with the state holding a 12.5 percent stake. Officials expect the mine to produce over 210,000 ounces of gold annually, contributing significantly to the national GDP and providing millions in yearly tax revenue and community development funds.

Despite the economic projections, the project faces ongoing opposition. Environmental activists and local residents have raised concerns regarding the potential contamination of the Arpa and Vorotan river systems by cyanide used in extraction, which could impact Lake Sevan. Protests have been organized in Yerevan, with demonstrators demanding the closure of the mine and a new environmental impact assessment.

Entities

Lydian Armenia · Nikol Pashinyan · Amulsar Gold Mine · COP17 · Zhejiang Leapmotor Technology Co.

Timeline

  1. [POLITICS] 2 sources
    Armenian protesters demand closure of Amulsar gold mine

    Protesters in Yerevan are demanding the closure of the Amulsar gold mine, citing environmental risks to major rivers and Lake Sevan, following the government's decision to reopen the site.

  2. [BUSINESS] 13 sources
    Amulsar gold mine begins official operations in Armenia

    Armenia has officially launched the Amulsar gold mine, a $750 million project expected to boost GDP by up to 2% and generate $130 million in annual revenue despite ongoing environmental concerns.

Sources

168.am · 301.am · ampop.am · aravot.am · armeniasputnik.am · armlur.am · blognews.am · factor.am · geghama.am · hetq.am · iravaban.net · mirrorspectator.com · norharatch.com · oc-media.org · shantnews.am