YEREVAN, DECEMBER 22, ARMENPRESS: The chief editor of a popular magazine-Science and Technique- has slammed today the government for turning down a reportedly $100 million worth investment project, promised by an Indian company that runs gold mines in Sotk, near the town of Vardenis in Gegharkunik province, for construction of a gold extracting plant.
The editor, Hayk Khachatrian, argued that the Law on Lake Sevan, a provision of which bans construction of industrial enterprises around the lake, was faulty and controversial, saying the plant, if built, would give a strong boost to the unemployment-plagued province of Gegharkunik.
The Armenian nature protection ministry had rejected the proposal citing the findings of an ecological expertise which said if the plant were built chemical substances used for gold separation would flow into rivers and the lake to jeopardize the local nature and people. But Khachatrian said today the lake was being polluted by waste waters running from towns and villages spotted on its shore, saying the government has to implement a comprehensive program to protect the biggest water reservoir of the country.
Earlier this year the Indian company had presented its arguments that the proposed plant would be equipped with state-of-the art devices to neutralize wastes. It said the plant would create 3,000 jobs for the region and give a push to development of other industries. The Sotk gold mine is being run by an Indian company, Sterlite Gold ltd., that bought all the shares of Ararat Gold Recovery Company in 2002.
The Indian company says it wants to build the factory because transportation of the ore to current plant located in the town of Ararat, more than 200 km away, is too costly.
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