Global Gold Mining Deprived of License for Works at Armenia and Nakhichevan Border

PanARMENIAN.Net - The Ministry of Environment Protection of Armenia has deprived Global Gold Mining American company of the license for prospecting at the Marjan lot at the border of Armenia and Nakhichevan, Armenian Minister for Environment Protection Vardan Ayvazyan stated on September 5. In his words, the company failing to fulfill its commitments was the cause of deprivation of the license. "The company failed to fulfill its commitments at the Marjan lot, thus we deprived it of the license," the Minister said.



We note that recently the Global Gold Mining has invested $6.5 billion in geological prospecting in Armenia. Before the yearend the company plans to increase the investment volume up to $9.6 billion. In 2004 the company was license for prospecting in Tukhmanuk, Hankavan, Getik regions (border zone of Armenia and Azerbaijan), as well as at the Marjan lot at the border of Armenia and Nakhichevan, reports IA Regnum.