Gagik Aghbalyan www.armtimes.com
“Geoteam” mining company, which plans to develop Amulsar mine, donated 122 million AMD (around US $256,000) to “Luys” Foundation, as the Foundation report says. “Pan-Armenian Environmental Fund” civic initiative can see corruption risks in it. First of all, the company hasn’t yet proceeded to gold mining and doesn’t make profit for such a gift. Levon Galstyan, a PEF member, pointed out two documents, which, in his opinion, enable having suspicions that these funds are pocketed my some people in power. Thus, on 10 March 2015 the Armenian Government made amendments to the legislation enabling to change the maximum allowable ramp gradient for haul roads and saving around US$ million, as offshore registered Lydian Company assures (Geoteam Company share owner). That is, the government made a decision in favour of the mining companies, “We don’t intend to report on a crime, but we think it’s a certain type of services through which funds are donated to certain types, in which case it’s Serzh Sargsyan’s fund,” Levon Galstyan said. It should be noted that the main shareholders in this case are IFC and EBRD…The board of directors of Lydian include Armen Sargsyan, the Ambassador of Armenia to the Great Britain. Geoteam Company also commented on the fact: “Last year we decided to support “Luys” Foundation to help several students to get education in the best world universities. One day they will be able to use the knowledge they acquired in favour of the state and, why not, to develop mining industry.” Charity in Armenia is perceived ambiguously, “Luys” Foundations received a grant from the Armenian Electrical Networks in the amount of 1.5 billion AMD. There are several funds, which are headed by people standing next to the President. “Luys” Foundation is headed by the president himself. “Aragil” Foundation designed for infertile families is headed by his spouse Rita Sargsyan. “Pyunik” Foundation is headed by President’s brother Levon Sargsyan. Mining companies donate large amount of money to all abovementioned foundations: Vallex Group (note by EcoLur – Teghout Copper and Molybdenum Mine), “GeoProMining CJSC” (Sotq Gold and Agarak Copper and Molybdenum Mine), Zangezour Copper and Molybdenum Combine (Qajaran Copper and Molybdenum Mine)… In 2014 “Luys” Foundation received 4.2 billion AMD (US $ 8.8 million), out of which 2.9 billion AMD were spent. The names of the students are also available, who received 1.9 billion AMD from the remaining funds, but it’s unknown where 556 million AMD went, as the report says other and legal costs.”
August 03, 2015 at 14:29