Lydian Armenia considers allegations of uranium hazard at Amulsar  mine absurd

ArmInfo.The Lydian Armenia Company issued another statement in which it pointed out the absurdity of the assertions that there is a uranium hazard at the  Amulsar mine.

The company's statement received by ArmInfo reads, in particular:  "Some circles that have specialized in spreading lies about Amulsar  for years have added to other nonsense the thesis that there is a  uranium hazard at the Amulsar mine, referring to the Gromov's  expedition researches, done during Soviet times (1952-1954) ".

The company informed that on August 14 this year, the State Committee  for Nuclear Safety Regulation, based on the Gromov's report, the  report of the Environmental Impact Assessment (EIA) of the Amulsar  project, the results of laboratory samples from about 50,000 wells,  as well as repeated studies of samples representing the largest  interesting and field measurements presented the results of tests in  the Ministry of Environment, (copy provided by Lydian Armenia).

"The results confirm the correctness of Lydian Armenia in this  matter. In particular, according to the results of the study, it is  noted:

- The territory indicated in the Gromov's report is outside the  Amulsar mine;

- Research work carried out by Lydian Armenia is sufficient for the  preparation of the EIA documents and the Environmental and Social  Impact Assessment (ESIA);

- The relevant sections of the EIA and ESIA documents comply with the  Radiation Safety Rules of the Republic of Armenia, as well as the  requirements of the International Atomic Energy Agency (IAEA) safety  standards;

- There is no need to revise the EIA and ESIA documents on radiation  safety," the company's statemnt stressed

At the same time, Lydian recalled that it has repeatedly presented  evidence that allegations of the uranium hazard are yet another lie,  and the Environmental Impact Assessment of Amulsar proves that all  studies were carried out properly and that there is no danger of  radiation or uranium on Amulsar.

"Thus, we hope that the page of the next falsification around Amulsar  can be considered closed with undeniable scientific justification,"  the company concluded.

The total cost of the Amulsar project is $ 370 million. The life of  the deposit is 10 years and 4 months, while it is planned to extract  an average of 200 thousand ounces of gold annually. To note, Lydian  Armenia is a subsidiary of the British offshore Lydian International.   Environmentalists and ordinary citizens are concerned that the  operation of the mine may lead to the pollution of the mineral  groundwater in Jermuk and Lake Sevan. In addition to the water basin,  the public is also concerned about the possible presence of uranium  manifestations at the deposit. Environmentalists and activists demand  that the positive conclusion on the EIA project be invalidated, since  it was adopted with legislative violations, and the document itself  contains problems and shortcomings.  

On August 12 the European Bank for Reconstruction and Development  (EBRD) announced the completion of its participation in the project  for the  development of the Amulsar field. Earlier this year, Lydian   International, a mining company that faced difficult financial   situation, announced a restructuring and was delisted on the Toronto  Stock Exchange. The European Bank for Reconstruction and Development   initially took part in the capital of the offshore company Lydian   International, registered on the Jersey island, together with the   International Finance Corporation (IFC), which withdrew from the   project 2 years ago.  The participation of these international donor   partners allowed the offshore company to enter the Canadian exchange   market and attract additional investment from institutional investors   in the form of investment and pension funds. The main lenders today   remain Orion Resource Partners, Osisko Mining and Resource Capital.   The Bank Fidanka McGrath notes that the current events around the   Amulsar mine bring significant reputational damage to the EBRD, even   after the EBRD's stake in Lydian International is liquidated.