GLOBAL GOLD MINING INTENDS TO EXPLORE URANIUM RESERVES IN ARMENIA

YEREVAN, JUNE 23, NOYAN TAPAN. The company Global Gold Mining
(GGM) intends to explore uranium reserves in Armenia. GGM Armenian
subsidiary director Ashot Poghosian told reporters on June 23 that
the acquisition of Getik area’s shares pursued this goal as well. To
recap, by purchasing last year shares of the company Atelia Investment
(also engaged in exploration of this area), GGM became the shareholder
of 80% of Getik Mining Company. In the words of A.

Poghosian, it uranium reserves are discovered in this area within
the next three years, GGM will apply to the Armenian government for
permission to explore the amount of these reserves. As regards the
RA Nature Protection Minister’s statement that GGM has no right to
conduct such exploration in Armenia, A.

Poghosian noted that in case of discoveing any mineral, including
uranium, the operating company must inform the government
about existence of this mineral in the given mine within 14
days. A. Poghosian said that it is desirable that relations of mining
companies and state structures took the form of cooperation.