DISCREPANCY BETWEEN "FIRST DYNASTY MINES" COMPANY OF CANADA AND ARMENIAN GOVERNMENT
Azeri Press Agency, Azerbaijan
Oct 31 2006
There is a discrepancy between Armenian Government and "First Dynasty
Mines" (FDM) Company of Canada extracting gold in "Soyudlu" gold
deposit in Kalbajar, the occupied Azerbaijan region.
Though in order to reduce transportation expenses FDM presented the
Armenian Government the project of gold extraction plant with little
oil percentage near "Soyudlu" deposit official Yerevan did not allow
the construction alleging to ecological norms. Besides the Armenians
working in the company were incited to hold protest actions against the
leadership. Because of the protest actions 500 Armenians working for
FDM were dismissed, Arif Isgenderov the chief of Ecology and Natural
Resources Ministry Ecology and Nature Protection Policy Department
told the APA. He said that Armenian press close to official authorities
and Russian press try to create a negative opinion about FDM.
"Probably this kind of actions serves to reconsider the agreement
between FDM and Armenian Government or to stop FDM activity.
Analogous processes happened between Armenian Government and Greek
company Armentel."
FDM invested US $22.1 mn in gold extraction in Nagorno Garabagh. The
company plans to invest US $12mn in Armenia’s gold extraction by the
end of next year. At the moment Armenian Government holds negotiations
with the World Bank International Finance Corporation and other foreign
banks with a view to make investments in the field o f gold extraction
in the occupied Azerbaijan territories. FDM has invested US $4 mn
in the geological explorations in Armenia and occupied Azerbaijan
territories. It is expected that the company plans to extract over
5 tons of gold and with the agreement of the Armenian Government to
make geological explorations in the 20 km round the deposit.
From: Emil Lazarian | Ararat NewsPress
