Two officials from the EITI (Extractive Industries Transparency Initiative) are in Armenia to gauge whether the country’s mining sector meets the 2016 global standards as defined by the EITI. Armenia joined the EITI in 2017 but has yet to be assessed against the 2016 Standard.
In Yerevan, Armenian Deputy Ministers of Territorial Administration and Infrastructure Karen Isakhanyan and Lilia Shushanyan met with EITI officials Olesia Tolochko (Armenia Country Officer) and Lydia Kilpi (Validation Manager).
According to an Armenian government press release, the Deputy Ministers stressed the importance of the EITI Initiative, which allows to collaboratively identify issues in the mining sector, ensure transparency and accountability, and thereby improve public confidence in the mining industry.
Given the current impasse on the future of the Amulsar gold mine in Armenia, positive findings by the EITI would back the Pashinyan’s government’s claim that all will be done to minimize any environmental risks posed by the mine.
The latest EITI report on Armenia covers 2017 and includes 27 mining companies. The total value of metal and minerals production in 2017 increased by 13.9% and was at 699 million USD, or approximately 5% of GDP.