Lydian Armenia, as the company tasked with managing the Amulsar gold mine in Armenia’s south-east, will have practically no chances to apply to an arbitration tribunal in case of a decision suspend the mining activities in the region, according to a lawyer.
Speaking to Tert.am, Gegham Simonyan noted that the Anglo-American venture, which is registered in an offshore zone, is not authorized to seek an arbitration proceeding to reinstate any right to continuing the mine exploitation. In his words, the problem “is not absolutely so serious as it is being presented to the public”. ‟Even if the company was legally competent to apply to an international arbitration tribunal, its arguments would hardly have any grounds at all,″ he said, agreeing that the chances for the Republic of Armenia to stand by its state interests would be insignficant too.
″Under the circumstances, I can say that Lydian has little if any chances at all in case of seeking arbitration,″ the lawyer added.
Meantime, he cited the environmental hazards to Armenia as real grounds for seeking material damage.
‟The entire polemic over Lydian’s chances to initiate a lawsuit are in the domain of hypotheses alone, whereas the estimated compensation is now hard to determine,″ he said, stressing at the same time the importance of a comprehensive review.
The expert also highlighted the disadvantages of an open mine exploitation for Armenia, questioning the credibility of a recently released expert report. ‟The available information allows us to insist that the exploitation of the mine may pose higher hazards than actually certain hypothetical demands for redress. I now see that those demands are totally groundless, without any objective facts being available. What we are speaking of now is a fanciful demand which wasn’t even presented,″ Simonyan said.
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